Selling or exchanging hoa common areasby bod

Started by BobW5 • 2 replies • 1008 views

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BobW5 (Arizona)
Posts: 21

Posted:

Can the BOD sell or exchange a hoa private road to obtain an access to a traffic light ,where now they have only a right turn lane ingress and egress only?

NancyD1 (Florida)
Posts: 447

Posted:

Most times common property can be sold with 100% of the membership's vote. Check your CC&R's, the formality will be described in them. The BOD cannot do it alone.

JoeW1 (New York)
Posts: 728

Posted:

Quote:

Posted By BobW5 on 10/02/2007 4:40 PM
Can the BOD sell or exchange a hoa private road to obtain an access to a traffic light ,where now they have only a right turn lane ingress and egress only?

BobW5 - There are decisions that a BOD can make without a vote of the residents, and other decisions that the BOD can authorize only if a percentage of residents approve it first. Your Declaration, Certificate of Incorporation, and By-Laws will outline when it is necessary to solicit the vote of the residents. However, as a general rule of thumb, I always advise informing the residents of Board activities by placing them on agendas and placing the agendas in conspicuous places for the residents to have an opportunity to tell the BOD how they feel. First, look at your governing documents, if you haven't done so already.

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