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CAFCOR Forum
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#371
Who's the Declarant Now? 2007/07/22 01:08  
We are re-writing our Declaration to correct an error in the CEA percentages which prevents us from selling a unit that belongs to the corporation.

The CEA math is not too bad, but we're not sure of a couple of other things:

1) We have a section describing a mortgage that the developer had during construction (20 years ago). I imagine the mortgage is long gone - the developer certainly is and we don't have a line item in our budget for his mortgage. Can we just delete this section from the declaration?

2) The developer is named as the declarant. Does that change to the board in our newly revised version?

Thanks very much for any help you can offer.
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#375
doubleu ()
Re:Who's the Declarant Now? 2007/07/22 03:23  
What advice on these questions does your lawyer/auditor give?
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#382
Re:Who's the Declarant Now? 2007/07/22 07:34  
We're actually trying to get most of the writing done before we put it on the meter with our lawyer and/or our auditor. So, we haven't asked yet. I thought someone here might know.
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#387
wotan ()
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Re:Who's the Declarant Now? 2007/07/22 20:21  
ALso, unless there are some larger than normal units (or smaller than normal units), if the units are all of aprox. the same size (in terms of # of rooms or square feet, rather than layout) has your condo considered using a formula where the maintenance fees are divided by the number of units in the condominium? For example, if there are 200 units, then each unit pays 0.5% (1/200th) of the fees. I say this because I see this as being a more equitable formula than the standard square footage aseach unit only has one vote. So unless there are units which are much larger or small than most, it is more fair that each unit pays on the same basis (as at an owners meeting 1 unit in 200 represents 025% of the units, so then the same should go for the maintenance fees.)
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#390
Re:Who's the Declarant Now? 2007/07/22 22:50  
wotan wrote:
has your condo considered using a formula where the maintenance fees are divided by the number of units in the condominium?

No, there are significant differences in size between units - from about 650 sq. ft. to over 2000. So, we'll have to allocate based on size.

But, it is not the math I'm concerned about, just the language. Is the board the declarant in a new revision? Do we have to list information about the developer's mortgage?
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#403
wotan ()
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Re:Who's the Declarant Now? 2007/07/23 06:53  
You really need to discuss the laguage issue with the condo's solicitor as there seems to be legality issues. As for the allocation, seeing there is a big difference, I can understand for the size evaluation as the owners of the smaller units will likely not like a possible hefty increase in their fees.
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#413
Yvon ()
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Re:Who's the Declarant Now? 2007/07/24 20:21  
Hello Richard,

I am not a lawyer and therefore the following is my opinion and should not serve as a substitute for the advice of a lawyer.

1) Yes, if the mortgage is cleared from the Title, then certainly it may be removed from the Declaration in the section 107 amendment process.

2) The Declarant is and remains the Developer.
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