The End of the Developer's Declarant Period

Started by AlexM1 • 2 replies • 1110 views

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AlexM1 (Oklahoma)
Posts: 287

Posted:

The developer bought this apartment complex and then changed it to a condo complex after doing some upgrades, etc. The declarant period officially ended at the end of June last year. This having passed, Is the deveoper authorized to keep certain properties within the complex i.e. a work shop........ a certin number of carports that he did not sell prior to the end of the delarant period.... as stated earlier, the last condo unit was sold at the end of June last year.

GlenL (Ohio)
Posts: 5,491

Posted:

The carports I would say yes, they are his property until he sells them, of course he would probably owe some assessments on them. As to the workshop and the carports both the answer should be in the CC&R's. If the CC&R's are silent on the workshop the HOA can either lease him the space if allowed in the CC&R's or tell him to take his toys and go.

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

BruceF1 (Connecticut)
Posts: 2,535

Posted:

Quote:

Posted By AlexM1 on 09/21/2013 1:50 PM
The developer bought this apartment complex and then changed it to a condo complex after doing some upgrades, etc. The declarant period officially ended at the end of June last year. This having passed, Is the deveoper authorized to keep certain properties within the complex i.e. a work shop........ a certin number of carports that he did not sell prior to the end of the delarant period.... as stated earlier, the last condo unit was sold at the end of June last year.

CCRs, or Declarations, usually contain a section on the Declarant's or Developers rights which sometimes remains in effect after the Declarant period ends. Ours contains such an Article and there's also a section on the Declarants's (developer's) personal property. Look for such a section in your documents.

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