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#1
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Right of First Refusal and DiscriminationWhat is the name of your state (only U.S. law)? Michigan I live in a condo association who is intent on changing the bylaws to eliminate our right to first refusal. Their argument is that it can be seen as a discriminatory practice and is a liability to the association. They have said we have no choice- it is illegal. But the research I have done seems to support the right of an association to contain a clause invoking the right to first refusal as long as it is not used in a discriminatory way. They also say with the mortgage crisis it is impossible to find financing through a traditional mortgage lender with this wording in our bylaws. Is just having it in there that big of a problem? Can we be sued? |
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#2
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#3
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| Some light reading for our OP (couldn't find what I wanted in MI, so consider this a general primer on ROFR's vs. discrimination): [url=http://wednesdayjournalonline.com/Main.asp?SectionID=1&SubSectionID=1&ArticleID=12318]Denied:1up! Software ()[/url] http://www.stroock.com/SiteFiles/Pub235.pdf http://www.stroock.com/SiteFiles/Pub147.pdf http://www.nytimes.com/2005/01/23/realestate/23home.html
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Last edited by You Are Guilty; 10-10-2008 at 01:43 PM. |
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#4
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| **A: hello, are you out there? |
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