need majority to say yes?

Please help settle an agruement I'm having with another board member. Please give me your take on the following that is in our master deed:

"The provisions of this Master Deed may be amended, changed or modified by an instrument in writing setting forth such amendment, change or modification signed and acknowledged by the Developer’s Mortgagee, owners of a majority of the percentage interest and a majority of first mortgagees having bona fide liens of record against the units."

I say you must have the majority of homeowners and mortgagees in favor of the change. My fellow board member says they don't have to be in favor they just have to acknowledged that we told them of the change. Who's right?

wow...is this guy from a country that used to have a dictator? Just think of all the things we could do if all we had to get was an acknowledgement that we told people of the change and no vote. Doesn't sound like a good place to be.

Hi Sandy:

If you are contemplating a change, consider that you would need to have a majority of the owners, as well as a majority of the first mortgagees. You need both majorities. It's not like you can get more from one group to make up for less from the other group.

But, while you may think that is hard, you simply need over 50% of each; less than the 75% or 100% votes that are in a lot of documents. The mortgagees are simply harder to get to than the owners.

J. Patrick Moore, CMCA