Our condo association is in the process of making some revisions to the rules. Included in the rules, most likely a hold over from the original rules, are a number of references to the mortgage creditor. For example, one article says that the regulations cannot be substituted nor modified without the previous consent of the mortgage creditor.
All the apartments are now individually owned, and there is no mortgage creditor. Can the references to the mortgage creditor be removed without putting us at odds with laws governing condos?
All the apartments are now individually owned, and there is no mortgage creditor. Can the references to the mortgage creditor be removed without putting us at odds with laws governing condos?