Can Someone Actually Do This?

Hello all, I have a problem. 3 years ago i bought a condominium, its located in a good area in Orlando Fl., since last year theres this group of people buying properties in this sub division and they have around 50% of the properties. I have been receiving mail from them trying to buy mine, but I have ignored them since I get good positive cash flow. Today I received a call from these people asking me to sell, I said no, so the guy told me that once they own 70% they can force me out according to the condominium by laws, its this possible?and if so what can I do. I was planning to retire there with my wife. mad
[addsig]

Comments(3)

  • makingaliving14th January, 2004

    Have you read the bylaws? If not, that's the first thing I would do. I can't imagine they'd have a right to force out a legitimate owner, but they might be able to vote in new rules regarding renting. You also could try meeting with other condo owners. I'd bet not all of them are agreeing to sell.

  • chrish84uk14th January, 2004

    Well if I was in your shoes I would see if there are such "by-laws". Check the usual avenues.
    people in the know who can give you the right info, but I can't see how they can take possession if they don't hold the title regardless of what they tell you. Sounds like a huge bluff in order to scare you into selling.
    Just a load of nonsense to me but good luck, I'm sure it will work out for you.

  • jlgs532614th January, 2004

    Thanks for the advice, I think Ill sleep better tonight. . By the way this is a great site, Ill spread the word around, again thanks.

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