Can a condo developer change from condos to apartments?
WHAT!!! You already own this unit he cannot take your unit and turn it into an apartment.. that’s crazy. In order to sell individual condos he had to Incorporate the Condo Association as a non-profit business. He actually no longer owns the property in it’s entirety, but is a share holder to whatever number units remain in his name.. He can rent out his units, but I believe the building must remain a condo community. I just never heard of this.. it’s usually the other way around (apts to condos) There may be some insane law in your state that allows developers to do this.. I have no clue. I see a huge law suit: condo owners v’s developer!!
