Oil and gas royalties

0
0

Do homeowners have a right to approve or vote on how oil and gas revenues are spent by the HOA Board in a townhome subdivision?

RESOLVED
Marked as spam
Posted by Anonymous
Asked on January 5, 2022 3:16 pm
5 views
Public question
Disclaimer: The response posted below is based upon the information made available and is not intended as a full and complete response to the question. The only manner to obtain complete and adequate legal advice is to consult with an attorney. No Q&A posting or other communication will be treated as confidential from this website and does not create an attorney-client relationship.
0
Private answer

Look at the governing documents of the HOA, which may give the right to approve the vote to the homeowners. If the governing documents are silent, most decisions would then defer to the decision of the board of directors. Unless there is express language, the board is always the default decision maker because there is a built in mechanism in governing documents to remove the board if they are not representing the best interests of the homeowners. There may also be information in the oil and gas lease as well. Good luck.

Marked as spam
Posted by Bill Henry (Questions: 0, Answers: 95)
Answered on January 10, 2022 9:39 am