Legal Question in Real Estate Law in Florida
Our Condo Association is asking owners to reduce our voting rights... the president wants to lower the required 75% majority resident vote required by Florida State Law and amend our Articles of Incorporation/Documents to a 55% majority. Yes, he is sending out a ballot to all homeowners to do so.
I feel that if this is done...I would have a difficult time selling my condo if I chose to do so as most people would want to be protected by Florida law. I also feel my property value could decrease. Could you give me an opinion on this subject and other con's about reducing the majority vote. Thank you
Would it
1 Answer from Attorneys
The 75% vote is not a statutory requirement, if the documents otherwise provide for a lower number. The membership can vote to reduce the voting percentage needed to amend the corporate documents as well as the Declaration of Condominium.
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