Tax Deed Buying and limited ownership

Started by SubeehR • 4 replies • 541 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

SubeehR (Florida)
Posts: 1

Posted:

If HOA has 2 units limit of ownership and that person buys the 3rd unit in tax deed foreclosure. How that is going to work out.

SheliaH (Indiana)
Posts: 6,964

Posted:

You haven't provided any real details that can lead to a decent answer - what is "limit of ownership?" Who is "that person" - you?

Come up with some details and try again.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

MelissaP1 (Alabama)
Posts: 13,836

Posted:

What is the punishment for owning more than 2? Is there something that has any teeth that prevents someone from owning more than 2 other than it being written in the documents? How it is purchased is irrelevant. Just the number of units they own as it increases their vote #'s.

Former HOA President

SteveM9 (Massachusetts)
Posts: 3,699

Posted:

im guessing it would limit the number of votes to two. but its easy to get around, just sell the third unit to a company you made up that only owns that one unit and now you only own two units again.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Quote:

Posted By SteveM9 on 10/04/2019 6:15 AM
im guessing it would limit the number of votes to two. but its easy to get around, just sell the third unit to a company you made up that only owns that one unit and now you only own two units again.

That is how I would do it so I would then control 3 votes.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here