Master Deed Question

Has anyone seen this?

Ever seen this exact addendum in a Master Deed?
Kind of open ended, isn't it?

Declarant hereby reserves unto itself, its successors or assigns, the right to unilaterally amend the Master deed at a later time and from time to time, for the purpose of annexing all or any portion of the real property more particularly described in the attached Exhibit J incorporated herein by reference (“the Additional Property”)…this privilege and option to annex the additional property shall in no way be construed to impose upon the Declarant any obligation to add all or any portion of the additional property to the regime or to construct thereon…

Thank you for your response,

Too late to not buy, I've been here for 11 years, never saw the Master Deed for the first 2 years because the developer was going to get the entire document to me ASAP

Yes John,

I sat on my hands from 2006 till 2008 while the entire housing market collapsed. My other property in Florida sat, had all the Insurance companies drop all the properties there and then my property here had the insurance drop us. I had to pull the Florida property off the market and rent it while both my properties lost half their value. I wasn't on the board yet up here and was just and ignorant participant of the recession. I never wanted to keep both properties but as a retired person on a fixed income with a lot of my savings tied up in real estate I couldn't afford to lose one quarter of my net worth. I'm old and not an attorney, have four degrees but I still don't know everything or I wouldn't be trying to learn from everyone, including you. Thank you for bringing my inability to learn everything so quickly to my attention. Sometimes a kick in the aXX is good for me. I have learned quite a bit since then but I still need advice and your help is greatly appreciated John. If you want another laugh, I put my florida property that is still underwater on the market three weeks before Erma blew over the top of it

No John,
We have "no common property." This isn't my mistake, it is still not transfered.

Hi Janet,

Odd you should mention that. Although the association was formed, built and completed on a single parcel the parcel was divided by the developer two years after all the properties were sold to the co-owners. The parcel became 6 tracts versus the single one it was built on. The developer sold one and transfered 4 others from their LLC to their Inc. And allowed the remaining area, including all the homes become a null parcel.

We had some minor storm damage issues after the hurricane so I went to the county and discovered the issues at that time. I then collected all the recorded information from the county register of deeds and informed the rest of the board that I had discovered information that affected the entire association, shared that information with the Board and...nothing. I suggested, since everyone on the board also owned property that was affected by this discovery that we should retain an attorney to just make sure everything was as it should be regarding our perceived property...nothing.

I researched all the information got an attorney, explained the situation and received options to decide how to procede. Retained another attorney, again on my dime and got suggestions so extremely important to the entire association that I shared the information and...nothing. I did not run again for the board and retired just last week. I'm implementing the 8 step suggestion from the attorney as far as I can without taking the issues into litigation.

But to make the long story short...(1) Title Insurance notification is the first step and most important step in the whole situation. If you have any concerns about common areas, property or amenities, they have attorneys that will handle most situations and developers will do the correct thing to avoid litigation because that is the last most expensive thing anyone would want to deal with, ever.

Hi Janet,

The slashes into the real property are in addition to the phases. I would love to be a fly on the wall in the developers office because, short of bulldozing or burning the entire developement there absolutely is no logical reason to not transfer the property. The small areas around it are too narrow and or small to build on and they tied all those up in the docs so they are useless anyway. Maybe someone in the community has been all over them before this board and they just want to be annoying because they can.