To comply with Section 17(i) of the Master Deed, Owners must provide a copy of their proposed Contract of Sale to the FSHA Manager 30 days prior to their agreed upon closing date for the sale of their Unit. FSHA has a 30 day first right and option to purchase Owner’s Unit upon the same terms contained in the proposed Contract of Sale.
If an Owner’s proposed closing date of the sale is in less than 30 days, pursuant to the terms of the Master Deed, Section 17(v), 51% of current owners can sign a waiver waiving the 30-day first right and option period. In such instances, Owner must provide a copy of the Contract of Sale including terms and dates to the FSHA Manager as soon as possible and the FSHA Manager will begin the process of obtaining the necessary signatures.
June 26, 2020