Conflict of Interest ??

Started by BenS1 • 5 replies • 971 views

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BenS1 (Washington)
Posts: 3

Posted:

About eight years ago, while Pres. of our HOA, I helped the developer of an adjacent property obtain approval from our HOA which was a requirment of the city.
I later purchased,in an arms length transaction,the least valuable ( due to lack of access and wetland restrictions) lot.
He may not have obtained HOA approval( which I also believed was beneficial to our HOA ) without my effort.
Comments please

SusanW1 (Michigan)
Posts: 5,202

Posted:

I suppose one might want to know how you "helped" in the first transaction. Did you provide needed paperwork? Twist arms? Bribe the officials? Just what do you mean you "helped"?

The second issue of you buying a lot that was part of this transaction. How much time passed between the two incidents? Where there several lots and were they offered to the public for sale?

RobertR1 (South Carolina)
Posts: 5,164

Posted:

Ben,
Was this assistance you provided something that the Board voted on? Did you act in the capacity of the Board president? Was the Board aware of anything, were there recorrds kept? For what reason?

What is "an arms length transaction" when purchasing property? Does the property being the least valuable have anything at all to do with this.

My advise: Just be absolutely sure of what you are asking here and on any web site. Don't risk making a mistake for so little gain. Me thinks these questions (what ever they mean, and they say something)would be better asked of legal council.

RobertR1 (South Carolina)
Posts: 5,164

Posted:

This post brings to mind again a memory of my Navy days during my 20 years there.

On Navy ships they usually belong to some squadron or task force or some named group. They usually have a program of inspecting each othe for any number of conditions, Medical readiness, navigation, communications, a whole myriad of of issues. So your sister ship could inspect you one week and you may inspect her the next.
Out of this grew an oft repeated question. "What the definition of an expert?" A man on another ship!

I think Ben should understand this. An expert is not necessarily a person on a web site.

MikeF4 (Texas)
Posts: 26

Posted:

Speak for yourself. =)

www.silveradohoa.com

MaryA1 (Arizona)
Posts: 7,043

Posted:

Quote:

Posted By BenS1 on 12/16/2008 5:34 PM
About eight years ago, while Pres. of our HOA, I helped the developer of an adjacent property obtain approval from our HOA which was a requirment of the city.
I later purchased,in an arms length transaction,the least valuable ( due to lack of access and wetland restrictions) lot.
He may not have obtained HOA approval( which I also believed was beneficial to our HOA ) without my effort.
Comments please

Ben,

1) You helped the developer of an adjacent property obtain approval from your HOA FOR WHAT?

2) Exactly what did you do to aid this developer?

3) Who did you purchase the property from?

4) Did your board position have anything to do with your ability to purchase this property?

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