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Caraless_While22 OP t1_jdyg3jc wrote

Reply to comment by RockHockey in Triple Decker Property Managers by Caraless_While22

Maybe this is all part of his scam....quick $6k before he vanishes on us.

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RockHockey t1_jdyh39n wrote

What does it say about Conflicts of Interest? The one I have says basically that the sole trustee can't contract with himself since there are no other trustees to ratify his action... but IANAL

Section 4.6. Self-Dealing and Trustees' Bonds and Liability. ....

Provided, however, that such contract, transaction or act shall be duly authorized or ratified by 100% of the Trustees who are not so interested and to whom the nature or such interest has been disclosed.

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Caraless_While22 OP t1_jdyiksk wrote

If only it was written in plain English, so the average person could understand it. This is an excerpt from the conflict of interest section that seems to me like he can do whatever he wants..

It is understood and permissible for the Initial Board hereunder and any other trustees designated by the Initial Board or who are employed by or affiliated or associated with the Declarant, to contract with the Declarant and any corporation, firm, trust or other organization controlled by or affiliated or associated with the Declarant without fear of being charged with self-dealing.

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RockHockey t1_jdyjb2f wrote

Sounds like it, hope he doesn't demand your first born child these first 4 months....

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