Master Association in Florida

Started by GaryJ5 • 3 replies • 196 views

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GaryJ5 (New York)
Posts: 14

Posted:

Is there anyone in Florida that is governed by a Master Association that is a Florida 617 non profit and has CCRs, a Coop, subdivsion with single family homes, and a RV Park all in a over 55 park? The Master Association sold certificates to 50% of the Coop and Subdivision and don't offer anymore certificates to the other 50%. The non certificate holders have no formal governing body, no voting, no representation, extremely higher monthly fees, and etc. is anyone else have the same setup?

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Gary

What are the certificates for?

GaryJ5 (New York)
Posts: 14

Posted:

The certificates are buying a membership which means they receive a reduced monthly fee and a vote for a board member that isn't on the Master Board. The certificates are not available to everyone. They have 3 classes of owners and renters . Certificate owners, non certificate owners, and renters. The master board governs all 3 but in the articles of incorporation they only say what certificates owners have rights to. there is no mention of non certificate owners in any governing papers.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Gary

While I have never seen such a formula applied to an HOA, I have seen it applied golf clubs. One I know of any member could become a Voting Member by buying their way in. Every member was a member but not all members could vote. In another situation only the original 100 members (called Bond Holders) could vote but one of them could sell their Bond to another member but there would never be more then 100 voting members. In both situations everyone was a member with equal rights to club usage but not everyone could vote.

As I said, I have never seen the principle applied to an HOA but it is not an uncommon principle.

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