Surprise, Surprise, Surprise?

Surprise, Surprise, Surprise?

(original web post 12/07/12):  Do the Minutes from April 16, 2012 that we did not get until recently disclose transfer or as is legally stated conveyance of various items such as the elevators from Meridien to Soho Central Condominium Corporation? We were not given these Minutes until recently after many months of Ryan and I complaining. The actions of the Board of Directors remain secret conducted in private meetings.

Many did not know that the elevators were not transferred and the cost of the continuing disaster was supposedly handled by Meridien. But, we were not and have not been fully informed as to what is going on with the conveyance.

Remember, the names of the developers are Meridien Development Group, Inc. (Meridien) and Greenfield Development Corporation (GDC). They are not Soho Central Condominium Corporation (SCCC). Read the Master Deed in the beginning for details. I know it is a bit confusing when you also consider that I have not even written Century Properties' name. Well, that is the complexity of all these entities getting involved with building and then us stuck with the end result, good or bad.

So the land and other items were not authorized to be transferred until recently and the Unit Owners/Investors have also been paying the taxes for the land. Yes, we pay for the taxes on land that was not ours. I am not sure about the other common property being conveyed. At this point, I am not sure until given more documents whether or not the transfer actually took place.

from SCCC-Minutes.2012.04.16:

"6.8 Conveyance of Mother Title and Common Areas and Equipment

The members of the Board also took up the matter of the conveyance by the joint-venture developer, Greenfield Development Corporation (GDC) and Meridien Development Corporation (MDGI).

After a short discussion on the matter, the following resolutions, were approved and adopted to wit:

'RESOLVED, as it is hereby resolved, that the Corporation accept the conveyance of the land upon which the Soho Central Condominium is constructed as well as the common areas and equipment installed therein from Meridien Development Group, Inc. (MDGI) and Greenfield Development Corporation (GDC), joint venture developers of the Soho Central, via the execution of a Joint Deed of Conveyance of Land and Common Areas in Condominium Project in favor of Soho Central Condominium Corporation (SCCC) and for this purpose,

MS. MA. CONSOLACION J. TIOTUICO, Director
MR. BUENHIJO F. DIAZ, Director

are hereby designated as the authorized representatives and signatories of the Corporation with full power and authority to sign, execute and deliver the said Joint Deed of Conveyance of land and Common Areas in a Condominium Project and such other documents as may be required for the purpose'."

Click here for a .pdf of the letter.

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