Declarant's developed & undeveloped lots

Started by MatthewK2 • 1 replies • 1128 views

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MatthewK2 (New Mexico)
Posts: 34

Posted:

Bylaws Article IV section 4.7: ABOUT VOTING
...Declarant shall be entitled to cast three(3) votes for each lot it owns until the first to occur of (a) conveyance by Declarant of seventy-five percent (75%) in number of lots in the VT subdivision(as defined in the Declaration) or (b) January 1,2015.
245 lots owned by individuals, developed lots are 43 and undeveloped
lots are 224.
Declarant cast 224 votes (proxies);one votes each lot.
85% 0f developed lots are owned by individuals.
Are they valid votes of undeveloped lots?
I pray good Samaritan can help me!

TimB4 (Tennessee)
Posts: 21,059

Posted:

Based on what you provided, yes they are valid votes.

Technically, based on what you provided, the declarant could have cast 3 votes per each lot they owned for a total of 672 ballots. Since they controlled the vote, it appears that the declarant chose not to exercise that option.

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