Our Condo Association is asking owners to reduce our voting rights... the president wants to lower the required 75% majority resident vote required by Florida State Law and amend our Articles of Incorporation/Documents to a 55% majority. Yes, he is sending out a ballot to all homeowners to do so.
I feel that if this is done...I would have a difficult time selling my condo if I chose to do so as most people would want to be protected by Florida law. I also feel my property value could decrease. Could you give me an opinion on this subject and other con's about reducing the majority vote. Thank you
Would it
Answer
The 75% vote is not a statutory requirement, if the documents otherwise provide for a lower number. The membership can vote to reduce the voting percentage needed to amend the corporate documents as well as the Declaration of Condominium.
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