Situation; lake community set up as a limited corporation owned by 20 people, all ground is "common'. One person wants to "do a "99 year lease" for a dollar to an outside party, of a storage shed on common ground. the purpose is so the leasee can pay on the taxes an insurance. I feel many risks exist but need to know legal presidence to fight
Honestly, this question is best answered by a local attorney that specializes in real estate. Much depends on how the corporation documents were written. But, if there is going to be leased use or any use of the common areas, it would seem that it would require written permission from each of the owners-in-common. Just my thoughts on the matter.