We are a 45 and over age restricted bareland condo and our bylaws reflect that in a number of areas. We, first off, when a unit comes up for sale, make sure the realtors know of the restriction. Homeowners may not always relate this as they as they want to find buyers. Secondly, once an offer is presented, either the realtors or the owner will ask for all the documents pertaining to the financials of the corporation. We ask for buyers age verification at that time. Lastly, if all the previous checks are met, we have have included a statement of the age restriction on the estoppel certificate. If the unit owner wishes to rent, all the same checks apply as the owner must apply to the Board for rental approval.
Steve T on March 19 2018 at 07:52 AM