An HOA board member deeded their property to others. Must they resign?
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An HOA board member deeded their property to others. Must they resign?
I live in a condo association. Several months ago, a member
of the board of directors deeded their condo to adult
children living elsewhere. The deed grants the property for
1.00, while reserving for myself a life estate. I
appreciate the probate/shielding assets/convenience aspects
of deeding the property this way, but the individual
continues to serve on the board of directors.
Our condominium association bylaws, registered with our
state, reflect …if any member ceases to be a Unit Owner
his membership on the Board of Directors shall thereupon
terminate.
Must not the individual who deeded the condo resign from the
board?
Asked on July 24, 2017 under Real Estate Law, New Hampshire
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
If I understand your question, this board member gave his children a remainder interest (they will get the property on his death) while keeping a life estate in it for himself. If so, since the life tenant (the person with the life estate) is generally considered an "owner" of the property at law, under the provision you quote, he would not have to resign. A life estate is ownership of the real estate during the life tenant's life.
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