|Voting vs. consensus in legal documents||<– Date –> <– Thread –>|
|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)
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