Board Member's Condo For Sale

Started by TimH4 • 3 replies • 1104 views

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TimH4 (Georgia)
Posts: 1

Posted:

We have a Board which consists of 5 Directors. One of the Directors who is an Officer has placed their condo for sale. Rumor has it that they are seeking a larger place, which would require relocation outside of our community. Should this person resign from the Board or remain?

Any input would be appreciated. Personally, I think that the Officer should resign. How can they be 100% focused on thier fiduciary duty to the long term, overall focus of the Association?

TimB4 (Tennessee)
Posts: 21,059

Posted:

Tim

Since most boards are made up of volunteers, I doubt that any Director is 100% focused on the HOA.

You have five Directors. Having one (or even two) be distracted by other things in their life usually happens and isn't detrimental to the Association. My Association has had people stay on the Board right up until the move with no problems.

Personally, as long as the remaining Board members ensure that any records the person may have are returned prior to the move. I don't see any real concern unless there are other issues that you haven't shared.

Tim B

MaryA1 (Arizona)
Posts: 7,043

Posted:

Tim,

As long as the board member still owns his condo he has a right to remain on the board. Only he will know if having his home for sale and the contemplated move will cause him to lose focus on his duties as a board member. By gosh, in this market he may still be around this time next year! I wouldn't let this consume you.

GlenL (Ohio)
Posts: 5,491

Posted:

And unless your CC&R’s require a person to live in your Association to be on the Board he may not even have to resign when he moves.

Studies show that 5 out of 4 people have problems with fractions

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