Condo Q&A

Can condo association share unit sale profits?

Written by CondoAssociation.com | Tue, Jun 16, 2020 @ 07:50 PM

Our condo association owns a unit and our board wants to sell it.  Is there any precedent on what to do with the proceeds.  It is going into reserves but some of us think it should be disbursed to owners on a pro-rata basis.  Thoughts?

New York