Condominium Redevelopment

CONDOMINIUM REDEVELOPMENT ACT

The Condominium Redevelopment Act aims to lower the voting requirements for the voluntary dissolution of condominium corporations, particularly for projects that are condemned or over thirty years old. It proposes to reduce the required votes from 70% to a simple majority for condemned projects, and from 100% to two-thirds for projects between 30 and 50 years old, and to a simple majority for those over 50 years old.