Real Estate Law
Have Real Estate Law Questions? Ask a Real Estate Lawyer.
Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to answer your legal questions.
The information that you need would either be in the bylaws, the declaration, or it doesn't exist. There is no law that requires any particular ratio. You already mentioned that there is nothing in the bylaws, so you should check the declaration to see if it's there. If it's not, then there is no particular ratio requirement.
Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied.
The law does not have a required ratio. If the bylaws and declaration do not, then no particular ratio is required for your building. The fact that FHA/VA requires a certain ratio is not law ... it's just their own policy. Your building doesn't need to abide by FHA/VA policies.
Hi again. Please let me know if you need further clarification
Hello again. I didn't hear back from you, so I'm just checking in to make sure that you don't need more help on this issue. If not, then please remember to provide a positive rating via the stars (and note that your positive rating is the only way that I'll get credit for helping you, so I greatly appreciate it). Thank you!