How to Draft a Manager Consent for Transferring a Condominium Unit

Question from Peton, How to Draft a Manager Consent for Transferring a Condominium Unit

Answer from AI:

When drafting a manager consent authorizing the transfer of a condominium unit, it is important to ensure that the document is clear, legally sound, and reflects the specific terms of the transfer. Below is a general guide on how to draft such a consent, including the necessary elements and considerations.

Key Elements of the Manager Consent

1. **Title and Introduction**
– Clearly state the purpose of the document.
– Identify the parties involved (e.g., the condominium association, the current owner, and the transferee).

2. **Recitals (Background Information)**
– Provide context for the transfer, including details about the unit and the debt being assumed.
– Mention any relevant agreements or resolutions that authorize the manager to consent to the transfer.

3. **Authorization and Consent**
– Explicitly state that the manager consents to the transfer of the unit.
– Include the consideration for the transfer (e.g., the assumption of debt by PF Land LLC).

4. **Details of the Transfer**
– Specify the unit being transferred (Unit #3 of Building Twelve).
– Include the amount of debt being assumed ($3.5M).

5. **Signatures and Date**
– Provide spaces for the manager’s signature and the date of signing.
– Include a notary block if required by state law.

Sample Manager Consent Document

Below is a sample manager consent document for the transfer of Unit #3 of Building Twelve to PF Land LLC:

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Manager Consent to Transfer of Unit #3 of Building Twelve

This Manager Consent (“Consent”) is made and entered into as of [Date], by [Manager’s Name], the duly authorized manager of the Pattern Storehouse Condominium Association (“Association”).

Recitals

• Whereas, [Current Owner’s Name] (“Current Owner”) is the owner of Unit #3 of Building Twelve (“Unit #3”) in the Pattern Storehouse Condominium (“Condominium”);
• Whereas, PF Land LLC (“Transferee”) desires to acquire Unit #3 from the Current Owner;
• Whereas, the Transferee has agreed to assume the debt allocated to Unit #3, which is approximately $3.5 million;
• Whereas, the Association’s governing documents and applicable law require the manager’s consent for such a transfer.

Authorization and Consent

Now, therefore, the undersigned manager of the Association hereby consents to the transfer and conveyance of Unit #3 of Building Twelve to PF Land LLC, in consideration of PF Land LLC assuming the debt allocated to Unit #3, which is approximately $3.5 million.

Signatures

IN WITNESS WHEREOF, the undersigned has executed this Consent as of the date first above written.

__________________________
[Manager’s Name]
Manager, Pattern Storehouse Condominium Association

State of [State]
County of [County]

On this [Date] day of [Month], [Year], before me, a Notary Public, personally appeared [Manager’s Name], known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument, the person, or the entity upon behalf of which the person acted, executed the instrument.

__________________________
Notary Public

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Legal Considerations

– **State Laws and Regulations**: Ensure compliance with state-specific laws governing condominium transfers and debt assumption.
– **Condominium Association Bylaws**: Review the association’s bylaws and governing documents for any specific requirements or procedures.
– **Debt Assumption**: Verify that the debt assumption is properly documented and that the lender is notified and consents if required.

When to Seek Legal Advice

It is advisable to consult with a legal professional to:
– Ensure the document complies with all applicable laws and regulations.
– Address any specific concerns or unique circumstances related to the transfer.
– Review and finalize the consent to avoid potential legal issues.

For more detailed information, you can refer to resources such as the [Uniform Condominium Act](https://www.uniformlaws.org/committees/community-home?CommunityKey=3a0d3a0d-0b1b-4b8e-8f3b-6b18e6b5d6d7) or your state’s specific condominium laws.

By following these guidelines and seeking appropriate legal advice, you can ensure that the manager consent for the transfer of Unit #3 is properly executed and legally sound.