Legal Question in Real Estate Law in Illinois
Ways to get around owner occupied rules
I have owned my condo for 9 years and we recently voted to go owner occupied. I know am moving across the country and want a friend to live in my condo.
How can I get around the owner occupied rule?
Asked on 7/31/07, 10:32 am
1 Answer from Attorneys
Peter Olson
The Olson Law Firm, LLC
Re: Ways to get around owner occupied rules
It's hard to give a good answer without seeing the specific language of the amendment that was made to the condo declaration. Typically we'll include exceptions for various relative groups but that wouldn't help you. If there isn't an exception or if you aren't somehow grandfathered in is to sell it to your friend perhaps on a land contract. This is sort of like a lease-to-own.
Answered on 8/01/07, 11:01 am
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