Today Robert Nordlund has guests Eben Hansel & Roger Winston to talk about Condo Termination/De-conversion and why it’s important to you!
❗Join our LIVE Podcast April 1st 2024 on Youtube! 👉 https://www.youtube.com/watch?v=24KbKsKyoNY
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/
Everybody should locate their “emergency exit” before going on a journey. The same is true for an association traveling into the future. Associations are not necessarily designed to physically or economically last forever. In this episode we learn about the association “Termination” or “De-Conversion” process, where a shared ownership association reverts to single-owner status. Learn why this happens, how, and when. As an “emergency exit” it is rarely employed (only hundreds have occurred in the USA), yet it is best to know that this exit strategy exists.
Contact Information from today's guests:
Eben Hansel: https://www.ballardspahr.com/people/attorneys/h/hansel-eben
Roger Winston: https://www.ballardspahr.com/people/attorneys/w/winston-Roger
Chapters from today's episode:
00:00 Hostel Takeover
01:00 Intro to Eben Hansel & Roger Winston
02:59 What is Condo Termination?
08:27 Is there HOA & CO-OP termination?
10:56 Challenges with condo termination
13:39 The two ways condo termination can go
16:10 The difference between a CO-OP and a condo
20:28 Are there certain situations that unite home owners to sell all at the same time?
24:52 What does it look like when a developer is driving a condo termination?
32:09 First steps you can make if your community is being taken over by a condo termination
Podcast Links:
Full Episode List
Watch On Youtube
Engage in the conversation!
Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com
Nominate yourself or a Board Hero you Know!
Board Hero Nominations
Boardmember Merch Store!
Connect with Hosts on LinkedIn
Julie Adamen
Kevin Davis, CIRMS
Robert Nordlund, PE
Support Our Sponsors
Association Insights & Marketplace
Association Reserves
Community Financials
Kevin Davis Insurance Services
Stokelight Video & Marketing
The Inspectors of Election
