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CM9837

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Percent of Ownership

Can Condominium Percent of Ownership (PO) be changed by a newly elected board once the association has been turned over from its developer to the owners? I know that most condominiums in Illinois adopt by-laws that require 100% owner acceptance to change Percent Ownership. If one can prove that the Percent Ownership was miscalculated or their are no documents to support how the ratio was calculate, does the association still need 100% vote to change the percent ownership?

3/10/2008, 11:37 am

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