Minority owners

[alexmclellan]

I am an owner in an 18-unit condominium in Virginia. Recently one individual became the owner of a majority of the remaining units and dominates the management of the unit owners association.

It is apparent that this owner is not willing to follow the generally accepted practices in fulfilling the fiduciary responsibilities of the board of directors.

At issue is the potential misuse of association funds. Specifically that association funds appear to be used for expenses such as repairs that are clearly the responsibility of the individual unit owners, in accordance with the bylaws.

Question. Is there any reason why the minority unit owners cannot form an association to manage it's share of the common expenses and thereby limit the ability of the majority owner to misuse the funds of the association members?What is the name of your state (only U.S. law)?

 

[HomeGuru]

I am an owner in an 18-unit condominium in Virginia. Recently one individual became the owner of a majority of the remaining units and dominates the management of the unit owners association.

It is apparent that this owner is not willing to follow the generally accepted practices in fulfilling the fiduciary responsibilities of the board of directors.

At issue is the potential misuse of association funds. Specifically that association funds appear to be used for expenses such as repairs that are clearly the responsibility of the individual unit owners, in accordance with the bylaws.

Question. Is there any reason why the minority unit owners cannot form an association to manage it's share of the common expenses and thereby limit the ability of the majority owner to misuse the funds of the association members?What is the name of your state (only U.S. law)?

**A: the other owners should hire an attorney to enforce the HOA docs and force the majority owner to abide by the fiduciary duties as a member of the HOA board.