JeffG8 (Ohio)
Posts: 9
Posts: 9
Posted:
BACKGROUND: I am a homeowner in an Ohio condo development which opened in 2004. The initial condo drawings provided for 72 units which included some single family, duplex and quad structures to be built. Currently only 20 units have been constructed of which 10 are homeowner occupied and 10 are developer owned. The developer missed the window of opportunity to build out the development due to bad management, poor marketing/prospecting and weak customer service. When the real estate market collapsed, the developer began cutting back on services and subsequently filed for Chapter 11 bankruptcy protection in 2010. It appears that the developer will reorganize and emerge as a new corporation with most of his assets intact and remain in control of the HOA.
The developer now wants to replat the remaining space in the condominium to all single family homes. This will result in a reduction in the number of total units (from 72 to 55).
My question is does the proposed replat require an affirmative vote of the all of the homeowner members? Or can the developer change the plat plan without a vote? I've examined the condo docs but its unclear whether the existing homeowners have any leverage in this matter.
I know this is primarily a legal question, but any input would be appreciated. Thanks in advance.
The developer now wants to replat the remaining space in the condominium to all single family homes. This will result in a reduction in the number of total units (from 72 to 55).
My question is does the proposed replat require an affirmative vote of the all of the homeowner members? Or can the developer change the plat plan without a vote? I've examined the condo docs but its unclear whether the existing homeowners have any leverage in this matter.
I know this is primarily a legal question, but any input would be appreciated. Thanks in advance.