realestate

Condo Board Restrictions on Unit Transfers and Family Sales Explained

Can a Condo Board Force Sale of My Unit to Another Owner?

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our cousin agreed to sell you her apartment at a discounted price due to your family relationship. However, the condo board has informed you that she must sell it to another owner who already lives in the building. Can they enforce this?

    Community associations have tools to maintain property values and living standards. They can fine residents for rule violations or even foreclose on their homes under certain circumstances. Many associations require buyers to be screened for fitness and ability to pay dues, while some include a "right of first refusal" clause.

    This means the association or a community member has the right to purchase the property at the same terms as you. Theoretically, this shouldn't bother your cousin since she'd still receive the same payment. However, the association benefits by choosing its members.

    Review the condominium declaration and other documents to confirm if the condo actually has the right of first refusal and under what conditions it can be used. Even if they followed the rules correctly, you may be able to escape this issue due to your family relationship and discounted sale price.

    You've unintentionally become entangled in a complex legal situation that will likely require an attorney's help to resolve.

Condominium board restrictions on unit transfers and family sales explained in detail.