Quote:
Originally Posted by foxboro82
We seem to have two documents that have to do with governance.
The first is the Master Deed, the second is the Declaration of Trust.
The Master Deed has all the information about the buildings and then also the basis of what we have created our Rules and Regulations from.
The Declaration of Trust is specifically dealing with how the trustees are elected, their powers, elections for trustees, etc.
I can only find the Master Deed in our Country Registry (along with individuals' unit deeds). The Declaration of Trust isn't in the registry...or at least I cannot find it there.
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Names and Titles can be different but the underlying documents are generally the same regardless of the name.
Covenants/Deed Restrictions/Master Deed are the highest ranking document (lower then governmental laws) and registered with the Deed at the County Register Of Deeds. As an example, the Covenants will say the BOD will consist of 5 members. Typically it will take a majority of owners to change a Covenant. Some times it could be 100% depending on the change. A BOD cannot change a Covenant.
Bylaws define things such as how the above 5 will be elected, recalled, their terms, etc. Typically it will take a majority of owners to change a Bylaw. Usually not as stringent a requirement (amount of owners needed) as changing a Covenant but none the less a majority. Bylaws may or may not be recorded with the deed. A BOD cannot change a Bylaw.
Rules & Regulations (R&R) can be implemented and/or changed by the Board Of Directors (BOD) without owner agreement/vote.
One area of constant problems is when a BOD tries to change/override a Covenant and/or Bylaw (or even a governmental law) with a R&R. One common illegal one is to try and limit renters.
Hope this helps.