Commercial condominium "Merger"
Posted: Thu Sep 23, 2021 7:15 am
Good morning Y'all!
I am wondering if anyone has successfully worked with a Condo Attorney to "merge" two condos in an industrial condo building. An applicant is asking to put in a door between two that they own.
It's never happened at my agency, but I am open to the idea. Do you think they would need to Dissolve and Reform the COA? Or perhaps file a Covenant to hold together, with some wording that they cannot be sold separately until the "Original Condition" is restored as approved by the Building Department?
I will be requesting the CC&R's that are recorded, so I can review the notes and definitions to see about interior wall ownership as well. Curious to see who owns what first, as well as how the fractional ownership is defined.
Thoughts?
I am wondering if anyone has successfully worked with a Condo Attorney to "merge" two condos in an industrial condo building. An applicant is asking to put in a door between two that they own.
It's never happened at my agency, but I am open to the idea. Do you think they would need to Dissolve and Reform the COA? Or perhaps file a Covenant to hold together, with some wording that they cannot be sold separately until the "Original Condition" is restored as approved by the Building Department?
I will be requesting the CC&R's that are recorded, so I can review the notes and definitions to see about interior wall ownership as well. Curious to see who owns what first, as well as how the fractional ownership is defined.
Thoughts?