Developer Lawsuit Prevents Sale

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In the first few years of a newly created condominium corporation the owner elected board will try to resolve issues dealing with building deficiencies, the developer's warranties and representations made in disclosure statements by the developer. In certain instances, a board may decide that commencing an action against the developer is the most effective way to resolve a dispute.

Once the claim has been issued, the condominium corporation must provide details as to the claim on any status certificate requested by a prospective purchaser.

Please see full article below for more information.

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Published In: Business Organization Updates, Civil Remedies Updates, Construction Updates, Personal Injury Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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