Home › COFSAB Forum › Legislation, Bylaws and Rules › Developer still Controls Board after 5 yrs › Reply To: Developer still Controls Board after 5 yrs
Maria MirkaMemberOctober 4, 2022 at 5:32 pm
I have read the information sheet that you refer to Terry and I have another question. Referring to page 12 “The Election of First Owners’s Board and Turnover of Documents”, it seems to be expected that Developers turn over certain documents to the owners’ Board of directors for the following reason: “to smooth the assumption of governance of the corporation by the owners”.
My question: The developer of our corporation holds a Restrictive Covenant on our condominium corporation and has done so for over 30 years. We have never had the opportunity to self govern because of this. The restrictive covenant is also registered on title. Can this be challenged? I know of no other condominium corporation that has had the developer hold such a document over the corporation in perpetuity.