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HOA President Issue

Started by AM3 • 7 replies • 641 views

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AM3 (Georgia)
Posts: 29
Posted:
Can we stop an HOA rogue President from continuing to purchase vacant property for their benefit that is part of the association especially when the property needs to be sold in order to maintain and repair our property. The person already owns 4-5 properties.
JaredC (Texas)
Posts: 264
Posted:
Does the HOA currently own the property or is it owned by a third party? Is the president trying to use HOA funds or would this be his personal property?
TimB4 (Tennessee)
Posts: 21,063
Posted:
Is it being bought at a discount or at market rate?
KerryL1 (California)
Posts: 14,550
Posted:
Are you on the board, AM?

What do your governing documents (CC&Rs, aka, covenants, declaration) say about selling common area property, which these lots seem to be? Often, no HOA common areas can be sold unless the Owners vote on it.
KerryL1 (California)
Posts: 14,550
Posted:
Are you on the board, AM?

What do your governing documents (CC&Rs, aka, covenants, declaration) say about selling common area property, which these lots seem to be? Often, no HOA common areas can be sold unless the Owners vote on it.
PainintheA
Posts: 77
Posted:
If the Pres. is 'snapping up' foreclosures using inside info ?

What does the attorney think ?

You know, the one you consulted to get a LEGAL opinion !
MarkM31 (Washington)
Posts: 494
Posted:
Quote:
Posted By AM3 on 08/10/2018 5:45 AM
the property needs to be sold in order to maintain and repair our property.

Who owns the properties prior to the president buying them up? Who is selling and why? And how does this affect the maintainence and repair of the HOA?
KerryL1 (California)
Posts: 14,550
Posted:
Though unclear, it looks like the prez is buying association property: "...continuing to purchase vacant property for their benefit that is part of the association..."

If it's the case that it's HOA property, who is signing off as the seller???

We need more info, AM.

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