Legal Question in Real Estate Law in Florida

My grandparents passed down their vacation home to five siblings who incorporated it splitting the shares five ways and created bylaws. The plan was to always keep the house in the family and pass it down to the next generation. There is no reference to selling the house in the bylaws, but it says decisions must be unanimous. Three out of the five, now want to sell it telling us the majority rules. Can a majority amend the bylaws to change what earlier said "unanimous?" They also have been orchestrating the sale without input from the other shareholders or a board meeting. As a corporation, should those that wish to sell need to sell their shares versus forcing a sale of the entire house? Many thanks for any advice on how to proceed.

Asked on 2/21/17, 10:47 am

David Slater David P. Slater, Esq.

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Since the By laws are silent and to avoid litigation, the 2 that do not want to sell should buy out the others.

Answered on 2/21/17, 11:32 am

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