May – June 2016

ROFR (Right of First Refusal) Is Gone

The Right Of First Refusal is no longer a part of the Three Fountains Declarations or Protective Covenants. This ‘rule’ has been in the governing documents since the property was developed back in 1966. The gist of the ROFR was that any homeowner who wanted to sell or rent their condominium here was required to inform the Board of Managers of the price to sell or rent, who in turn had the right to match the price within five days of the notification from the owner of the property.

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