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The Declarant Period is OVER

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The AllKnowing

Junior Member
What is the name of your state (only U.S. law)? Arizona

The declarant period for the company that converted this apartment complex to condos was over last year.

They still have title(not sure what type of title) to a few garages that they had previously sold to new owners for from $10,000 to $15,000 each and a number of carports that they had previously sold to new owners for from $900 to $1,200 each. Even at this time, they are attempting to sell the remaining garages and carports

The question is... in view that the declarant period is over, do they have the right to continue to hold onto property at the condominium complex?What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
 


FlyingRon

Senior Member
What do the by-laws and other condo docs say?

Typically, they are out after a certain percentage of the units are sold and the owner association is set up. Nothing prevents them from holding a few properties that were yet unsold (and they typically write some sweet deal into the by-laws with regard to the treatments of the units they still own).
 

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