12-14-2021, 09:09 AM
(12-14-2021, 02:10 AM)nms Wrote: I can't imagine how any condominium tower can ever have a major type of, back to the beams, renovation that some post-Second World War buildings need from time-to-time.
That’s easy. If the owners of 80% of the units vote to terminate the condominium and sell, the entire building can be sold. A few changes to a condominium require 90% approval, including if I recall correctly adjusting the proportions of the common expenses due from each unit, but terminating only requires 80%. So the Condominium Act is designed to avoid problems with holdouts.