A Developer is permitted to hold a seat on the Owners Committee, but only if they still own unsold units within the specific jointly owned real property. In this capacity, the developer is treated as an owner and must adhere to the same standards an…
A Developer is permitted to hold a seat on the Owners Committee, but only if they still own unsold units within the specific jointly owned real property. In this capacity, the developer is treated as an owner and must adhere to the same standards and obligations as other members. However, their role is primarily to ensure the smooth transition of management and to represent their interests in the remaining inventory, while the committee as a whole focuses on overseeing the Management Entity,.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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