Legal Question in Real Estate Law in Idaho
Covenants,Conditions,Restrictions for Subdivision
A section of the CC&R states how the annual assessment is to be paid. In this case it is (was) quarterly. Two years ago the Board of Directors required that payment be made in one lump sum, this was done throught the annual statement mailed out. My question is should they have made a more formal notification, such as update the CC&R to notify prospective homeowners that quarterly payments are no longer permitted, or is this normal process for CC&R. I would at least think a formal notification would be made to list the section they were changing since the CC&R is a legal recorded document.
1 Answer from Attorneys
Re: Covenants,Conditions,Restrictions for Subdivision
Yes, the board generally cannot change the covenants for the first 20 years without a vote of not less than 90% or 75% in some cases. They can generally change the covenants (CC&R's) after the 20 years upon a vote of a lesser amount of homeowners. You need to check the covenants for the rules your covenants follow, but they cannot change the covenants without a vote of the homeowners at the annual meeting. .......... My teleph # is 208-345-3817 if you require my help