Voting vs. consensus in legal documents
From: Rob Sandelin (Floriferousmsn.com)
Date: Fri, 27 Dec 1996 16:38:18 -0600
In our state, our attorney advised us that Fannie Mae would not approve 
mortgages on condo documents that used consensus (100%) for making association 
approvals.  Instead, in our legal docs we used  66% (2/3rds) and then created 
an internal house rule to use consensus.  Since consensus is AT LEAST 66%, 
then we are in compliance with our declarations and everything is cool.

Of course, this gives us an escape clause on consensus decison making, that we 
can always fall back on if we choose to.

The banks do not get copies of our internal rules.

Rob Sandelin
Sharingwood (which is buried in most snow in 7 years and very pretty right now)
  • (no other messages in thread)

Results generated by Tiger Technologies Web hosting using MHonArc.