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BillyH
Posts: 9
Posted:
Does anyone know the proper procedure to change Condo's to Townhomes?
MikeS1
Posts: 658
Posted:
Condominium ownership to fee simple ownership? I would be surprised if it's ever been done.
MelissaP1 (Alabama)
Posts: 13,734
Posted:
A surprising source may be to go to your Tax Assessor's office. As strange as it sounds, the information you need may be located there. When I claimed my "homestead" taxes, I was surprised. It turns out that a "Patio Home" is NOT recognized. There is no official catagory for that. I had to either claim single family home or condo. Neither is technically correct. I claimed single family home since my house stood alone and not attached like others in the HOA.

You may want to check with them to see how they define a condo or a town home. A mortgage company may also shed light on your question as well. They fill out paperwork all the time regarding different types of property. Good luck!

Former HOA President
JoeW1
Posts: 687
Posted:
An apple cannot be an orange. Likewise for condo's and townhomes. Both are by definition different property regimes. A fairly decent article is at http://realtytimes.com/rtcpages/20000629_condotwnhome.htm Go to http://www.familymatters.tv/level_4/homeandgarden/townhousecondo.htm for a great description of the differences.
RogerB
Posts: 4,986
Posted:
Quote:
Posted By BillyH on 06/15/2007 6:12 AM
Does anyone know the proper procedure to change Condo's to Townhomes?

It will be extremely difficult to impossible to achieve this. I would start by reading the CC&Rs to see if and how the CC&Rs can be terminated. If they can be terminated then consult with a good HOA attorney to determine how the conversion can be achieved and the estimated cost. This alone may terminate the process.

If still a GO, then it will probably require a signed ballot vote of all owners to terminate the Condo CC&Rs. And a separate signed notarized agreement by each owner to form the townhome association. I would include details on distribution of each Condo common area and the proposed CC&Rs for the townhomes. If every owner approves the conversion it may be doable.

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