The End of the Declarant Period

Started by AlexM1 • 3 replies • 1134 views

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AlexM1 (Oklahoma)
Posts: 287

Posted:

A developer purchased the complex and converted the comlex into condos. When that developer declarant period
is over, is the developer allowed to keep anything,i.e. any garage(s), carports or even the furniture in the clubhouse?
The declarant period is long over at our complex but the developer might still be laying claim to the furniture and even a
garage or two and even carports. It was my previous understanding that when a declarant period is over, the developer has nothing
left that legally belongs to them at the condo complex

GlenL (Ohio)
Posts: 5,491

Posted:

Alex, if these items (carport & garage) are items owned by individual homeowners then yes it is possible that the Declarant might still own ones he was unable to sell. If they are owned by the Association then they should have been transitioned, the best way to know for sure is to ask the Board.

Studies show that 5 out of 4 people have problems with fractions

CarolR11 (Colorado)
Posts: 2,563

Posted:

I might be off base here, but assuming that your HOA has a reserve schedule, if the furniture in the clubhouse belongs to your HOA, it'll be listed on the schedule, an est. of its remaining life, etc.

We've been out of developer control for almost 10 years, but the development co. kept a parking space deeded to it in our underground garage.

LarryB13 (Arizona)
Posts: 4,099

Posted:

The declarant should have recorded CC&R's that specify what real and personal property that he will retain control of, if any. There should also be a plat recorded that may include easements for parking. Any property that was deeded to the association as common area should have a recorded deed.

Do not assume that the declarant knew what he was doing. I've known a number of persons who call themselves "developers" and they seem to be uniformly ignorant of the law as they believe that they are exempt from it.

I would strongly suggest that you have your association's attorney review everything (deeds, plats, CC&R's, articles of incorporation) and look for any defects.

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