J
jettrink
Guest
I have property in the country that has deed restrictions that specifically address maintenance fees to be assessed on a per tract basis. The developer has just turned over the association to the property owners but voting rights are not directly addressed as to voting by owner or by tract.
The problem is that one owner has 3 tracts and one owner has 2 tracts (bought at separate times). The owner who has 2 tracts believes that it should be one owner/one vote and the owner of 3 tracts believes it should be one tract/one vote.
The only voting issues addressed in the restrictions are Clause 17 "All functions of the developer shall be turned over to the POA when the last tract is sold by the developer of XXXXX, but may be turned over to the POA at any time if agreed by the developer and at least 2/3 of the property owners of XXXXX." And in clause 18 "... the owners of a two thirds (2/3) majority of the tracts may release any tract from any restriction or restrictions at any time."
My question is "How should voting be handled and are there any such statutes (Texas) that address this issue? Since we have to set up bylaws, etc. it is important to establish voting rights early.
The problem is that one owner has 3 tracts and one owner has 2 tracts (bought at separate times). The owner who has 2 tracts believes that it should be one owner/one vote and the owner of 3 tracts believes it should be one tract/one vote.
The only voting issues addressed in the restrictions are Clause 17 "All functions of the developer shall be turned over to the POA when the last tract is sold by the developer of XXXXX, but may be turned over to the POA at any time if agreed by the developer and at least 2/3 of the property owners of XXXXX." And in clause 18 "... the owners of a two thirds (2/3) majority of the tracts may release any tract from any restriction or restrictions at any time."
My question is "How should voting be handled and are there any such statutes (Texas) that address this issue? Since we have to set up bylaws, etc. it is important to establish voting rights early.