Certain aspects of the Condominium Law needs to be revised as follows to create a sustainable three branches of governing over properties:
1. Directivas should be banned as a concept in the rules of Condominiums in the country.
2. Only Administrators (with no ownership interest in the property) should have signatory control of bank accounts to make payments.
3. Property owners or others with any direct ownership control to the property banned from signatory control of bank accounts. It is a true conflict of interest.
4. Administrators should face a mandatory 3rd party full audit of their dealings with the Condominium's financial account annually.
5. Property owners act as legislators in quorum meetings to pass resolutions according to the percentage of their ownership of the property.
As it currently stands, the Condominium law has many flaws as it is allowing minority interests to take monopoly control of properties (due to owners in this Directiva entity having signatory authority over the properties financial account) leaving certain property owners (outside the clique) with only legal demand action recourse against this form of nefarious activity.
1. Directivas should be banned as a concept in the rules of Condominiums in the country.
2. Only Administrators (with no ownership interest in the property) should have signatory control of bank accounts to make payments.
3. Property owners or others with any direct ownership control to the property banned from signatory control of bank accounts. It is a true conflict of interest.
4. Administrators should face a mandatory 3rd party full audit of their dealings with the Condominium's financial account annually.
5. Property owners act as legislators in quorum meetings to pass resolutions according to the percentage of their ownership of the property.
As it currently stands, the Condominium law has many flaws as it is allowing minority interests to take monopoly control of properties (due to owners in this Directiva entity having signatory authority over the properties financial account) leaving certain property owners (outside the clique) with only legal demand action recourse against this form of nefarious activity.