Hello, First time poster. I am a 45 yr old who purchased a condo 10/30/04 and am about to close on 12/15 This initially was for my folks who since have changed their mind about moving to Fla.

I was part of the 80/20 rule which allowed me to purchase this unit being under 55. I was told that because I am part of the 20 percent I can sell it or rent it to someone under 55.

The closing has been delayed and other owners who purchased after me have since closed. I was told by the HOA management I am not part of the 20 percent and cannot rent or sell to anyone less than 55 that the 20 percent has been filled.

I am confused with this policy and believe I still maintain my 20 percent status. I need to sell this property so this is very important.

Any help would be appreciated. Scott.

I think you need to contact an attorney for local legal advice. In the absence of reviewing the covenants and rules and regs, it's impossible to give you objective advice, since it's such a specialized situation.
HOA boards can be unreasonable and act against the law.
Good luck!

If the HOA say you are not part of the 20 then you should not be able to purchase the property at all at this point. Contact a local Real Estate Attorney to assist you in resolving this matter.