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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33798
Experience:  15 years real estate, Realtor. Landlord 26 years
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I'm the president of my building's condo association in Illinois.

Customer Question

I'm the president of my building's condo association in Illinois. We have 4 units and each owner is a director on our Board, so we can have 2 to 2 deadlocks on certain issues.
I'd like to change our Declaration to stipulate that our Board will go from 4 directors to 3. If this were to end up in binding arbitration, how likely would the arbiter agree with me? My argument would be that since we're a small association, we'd like to avoid costly arbitration every time we deadlock on voting matters.
Thanks.
Submitted: 8 months ago.
Category: Real Estate Law
Expert:  Barrister replied 8 months ago.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question..Your Bylaws should determine how any changes can be made to your voting structure and this typically requires a vote of the members to make any formal changes. If your vote is approved, then you are good to go and the changes take effect. But if you have a deadlock, then your Bylaws should also state what happens in that situation. If it states that binding arbitration is the method to resolve deadlocks, then I would agree that an arbitrator should approve the change so as to avoid the costs associated every time a stalemate is reached..The only thing that you will have to determine is who loses their vote, which may be difficult unless the President is the default person who loses their vote and sits as a nonvoting owner...thanksBarrister

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