Monday, November 24, 2008

To Be or Not To Be

Lake Ashton West homeowners Assoc wants to join Lake Ashton East homeowners Assoc, that my friend will never happen if the deed restriction are not the same. First we have to understand that this merger makes sense If the two communities and deeds are identical in every respect. If the two communities are to be identical then the deed restrictions should be identical, except for the description of the properties involved. THE DEED RESTRICTIONS ARE NOT CURRENTLY IDENTICAL AND WOULD NEED TO BE AMENDED AND THIS REQUIRES THE CONSENT OF THE MAJORITY OF THE LOT OWNERS. IF AND WHEN THE DEED RESTRICTIONS WERE IDENTICAL THEN LAKE ASHTON WEST HOA, COULD MERGED INTO LAKE ASHTON HOA AND THIS REQUIRES THE CONSENT OF THE MAJORITY OF THE SHAREHOLDERS OF THE MERGER OF TWO UNRELATED CORPS. IT WOULD GOVEN BOTH LAKE ASHTON AND LAKE ASHTON WEST, PURSUANT TO ONE SET OF BYLAWS, ONE SET OF RULES, AND ONE SET OF DEED RESTRICTIONS. Presently their deed restrictions Lake Ashton West is different than Lake Ashton East. Too many complicated problems with two sets of deed restrictions and too difficult task to discuss depending on the extent of those differences. It would be a grave mistake to become one.

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