In a previous blog, I explained CAI’s conflicted stance on private property rights of condo owners. In this blog, I provide the back-story.
Prior to 2007, if owners wanted to terminate the condominium regime, Florida law stated that 100% of owners – and lien holders – had to agree to the termination and a specific plan for liquidation of all assets. (Governing documents could specify a lower threshold, but few did.) The main problem with unanimous consent was that, following some of Florida’s hurricanes which damaged a significant number of condo buildings beyond repair, it was difficult or nearly impossible to locate and obtain consent from every unit owner, thus delaying termination and redevelopment.
The Las Vegas Review-Journal, which is the only news outlet in the nation to thoroughly and consistently report the massive HOA scam, is out with new details this weekend on the decade-long scandal.
More than forty people were indicted, pleaded guilty, committed ‘suicide’ or are still awaiting trial in a scheme to take over Homeowners Associations in Nevada. After gaining control of the boards of at least ten HOAs, these criminals voted themselves untold millions of dollars of homeowners’ money. Instead of paying for repairs and maintenance, the millions were diverted into the pockets of lawyers, police officials, businessmen, politicians and others. The big suspect is Las Vegas night club owner and tequila manufacturer Leon Benzer. He claims he’s currently paying his massive legal expenses by driving a taxi.
