Friday morning, somebody asked me if I was going to post anything about Thursday’s Owners’ Zoom Meeting. I had to think about it: in one way, I’m out of words, and in another way, I have way too many, lots of which aren’t printable. But, I guess I never met a keyboard I didn’t like, so here we go:
First of all, the results of the extended vote were announced by our CPA who counted the votes. The totals were 377 FOR the special assessment, and 777 AGAINST. The effect of this is that the Hawks Nest Condominium will be terminated and the assets liquidated and disbursed to the owners on a pro rata basis.
To those of you who for one reason or another didn’t listen to the meeting, you’re the lucky ones.
I did stay on for the whole thing, and the meeting was just what we have come to expect from our board: a 2+ hour free-for-all with people jumping in and making comments or asking questions with absolutely no control from President Gary Tucker. It was anarchy.
One owner dropped the F-Bomb, in the Zoom chat function, people were openly accusing the board of trying convert the assets to their own use, actively pressuring owners to vote “no”, and more. Another participant actually made a motion to overturn the vote. Sound familiar?
Our lawyer certainly earned his money that night. He patiently explained over and over again what our situation is now that the vote is official. First, the vote is over and final. The board has an obligation, not option, to produce and record a document terminating the condominium. Once that is done, the Hawks Nest Condominium and all its unit weeks are no more. Period.
The Association however, continues, and all the by-then former condo owners will become tenants in common in ownership of all the assets, cash, equipment, building such as it is, and most importantly, the real estate, each owner’s share being based on the number of weeks they owned.
The eventual outcome is, in my opinion, inevitable. The condominium will be terminated, and after a probably lengthy process, and the assets will be liquidated and disbursed to the owners.
The only questions are how long will it take (probably years) and how much of our money will be pissed away on lawsuits. Most likely, the lawyers will get more money than the owners.
My hope is that those who are threatening scorched-Earth lawsuits will realize that this will cost them far more than they hope to gain. I have to say that after numerous plain-talk explanations by the attorney, at least some of the participants seemed to realize that this is it. Sadly, the Hawks Nest is soon to be history.