Page 1 of 1
Condos reversion process
Posted: Thu Aug 11, 2011 9:09 am
by PPereira
Good morning,
Does any of you have information on condominium reversion process?
Your expert input is much appreciated!
Posted: Thu Aug 11, 2011 12:00 pm
by RAM
This is new to me. If you revert a Condo, what do you end up with? A single owner apartment? You have me curious.
Posted: Thu Aug 11, 2011 1:55 pm
by land butcher
RAM wrote:This is new to me. If you revert a Condo, what do you end up with? A single owner apartment? You have me curious.
Me too. And why would anyone want to do that?
Posted: Fri Aug 12, 2011 6:44 am
by PPereira
I was very curious as well. I work for a public agency and I was asked this question by one of the planners. Somebody interested in buying this particular property that had been converted to condos in the 60’s raised the issue. He now would like to buy it and reverse the process. I had never heard of this "condo reversion" process before. I was curious to find out if any of you knew about this... I did find some references to it in real estate companies website but not enough to understand it.
What are your local agency requirements?
Posted: Fri Aug 12, 2011 7:37 am
by dmi
This would fall under you local agency requirements for voluntary mergers, if any. The HOA would most likely have to be dissolved, so there are some DRE issues as well.