When does the declarant lose the right to appoint and remove directors in a One Phase condominium project?

The correct choice highlights a significant aspect of the governance of One Phase condominium projects. The declarant retains the right to appoint and remove directors as long as certain conditions apply, specifically tied to the sale of units and the timeframe associated with the development.

In Georgia, the declarant maintains this authority until either 80% of the undivided interests in the condominium are sold or three years have passed since the declaration of the project. This provision is designed to ensure that the governing body of the condominium can be transitioned to the unit owners themselves in a timely manner, allowing residents to have a significant say in the management of their community once a substantial portion of the units are sold. The result is a greater level of resident control as the project matures.

This underscores the balance between developer control and owner control in the initial stages of a condominium's operation, promoting a smooth transition of governance as the community develops. Understanding this threshold is crucial for both the developers and the homeowners as they navigate the complexities of condominium governance.