News & Analysis as of

Condominiums Disclosure Requirements

Lerch, Early & Brewer

2024 Maryland Community Associations Legislative Update

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The Maryland General Assembly’s 2024 legislative session saw over 1,400 House Bills and 1,100 Senate Bills introduced, with several new laws passing that will affect community associations beginning on October 1, 2024....more

Foley & Lardner LLP

New Freddie Mac Underwriting Guidelines for Condominium and Cooperative Projects

Foley & Lardner LLP on

If you develop or manage condominium or cooperative projects, you need to be aware of new Freddie Mac underwriting requirements - Freddie Mac has promulgated new temporary underwriting requirements for mortgages secured...more

Baker Donelson

Required Disclosure of Defects In Home Sales Applies Only To Single Family Residential Property Improved By Less Than Five Units

Baker Donelson on

Compliance with Section 10-702 of the Maryland Real Property Code has been a source of some considerable discussion. It requires that a home seller provide the buyer with a either a “disclosure statement,” by which...more

Woods Rogers

2020 Legislative Changes Affecting Virginia Community Associations

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The 2020 legislative session was notable for a few reasons.  First, the Democrats held the majority of seats in both houses of the General Assembly for the first time in recent history.  Second, the legislature also took...more

Stoel Rives LLP

2019 Condominium Warranty Reforms and WUCIOA Clarifications

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The Washington Legislature wrapped up its 2019 session by enacting much-anticipated reform to the condominium implied construction warranties. The warranty reform bill also included important clarifications of the application...more

Baker Donelson

Condominium Resale Disclosure Requirements – Be Sure You Have the Most Recent Version of Section 11-135

Baker Donelson on

As I have previously written, the information contained in condominium resale disclosure certificates must be carefully reviewed for accuracy, so as to avoid exposing the community to liability for misleading information that...more

Sands Anderson PC

2018 Legislative Update: New Laws Impacting Commercial Real Estate Clients

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Below is our annual update on legislative changes impacting the real estate industry. All common interest communities are based on a foundation of real estate law, and thus changes to these laws can often impact common...more

Sands Anderson PC

Attention Virginia Community Associations: DPOR CIC Board to Adopt New Notices for Condo Resale Certificates and POA Disclosure...

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During its 2018 session, the Virginia General Assembly passed new legislation amending the disclosure requirements under both the Virginia Condominium Act and the Virginia Property Owners’ Association Act. The new legislation...more

Snell & Wilmer

Colorado Construction Defect Action Reform: HB 17-1279 Approved by Colorado Legislature; Governor’s Approval Imminent

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Colorado developers frequently cite Colorado’s Construction Defect Action Reform Act (CDARA) as an obstacle to building new condominiums in the state. Developers contend that the law makes it too easy for condo boards to sue...more

Carlton Fields

The ILSA Condo Exemption – Not Out of the Woods Yet

Carlton Fields on

The Interstate Land Sales Full Disclosure Act (ILSA) is a federal statute that aims to prevent land sales fraud and uninformed purchases of unimproved real property by requiring registration of subdivisions with the Consumer...more

Ballard Spahr LLP

Real Estate News in Metro DC

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Ballard Spahr’s mixed-use, condominium, and multifamily lawyers are pleased to provide this newsletter to keep you apprised of important developments and trends in real estate law in Maryland, Virginia, and Washington, D.C. ...more

Cozen O'Connor

New Condominium Sponsor-Developers Guidelines Go Into Effect November 1: Certificates of Occupancy

Cozen O'Connor on

Earlier this week, the Real Estate Finance Bureau of the New York State Office of the Attorney General (REF) provided significant guidance on several issues facing sponsor-developers of new construction and gut-renovation...more

Akerman LLP

Condominium Termination Statute Amendment

Akerman LLP on

On Tuesday, June 16, 2015, Governor Rick Scott signed into law a bill that will amend the Distressed Condominium Relief Act (the "2015 Amendment") by modifying the procedures and requirements imposed upon those seeking to...more

Stoel Rives LLP

Condominium Law Alert: Condominium Units Now Exempt from ILSA Registration

Stoel Rives LLP on

On September 26, 2014, President Obama signed H.R. 2600, which amends the Interstate Land Sales Full Disclosure Act (“ILSA”) to exempt condominium pre-sales from the registration requirements of the ILSA. ...more

Sherman & Howard L.L.C.

Congress Exempts Condominiums from Interstate Land Sales Registration Requirements

In a major break-through for condominium developers, on September 18, 2014, the United States Senate voted unanimously to adopt an amendment to the Interstate Land Sales Full Disclosure Act (often called “ILSA”) that will...more

Ballard Spahr LLP

Disclosures Regarding Solar Panel Restrictions

Ballard Spahr LLP on

Section 55-79.97 of the Virginia Condominium Act and Sections 55-509.5 and 55-509.10 of the Property Owners' Association Act were amended to require that the disclosure package of the association set forth any restriction on...more

Snell & Wilmer

A Glimmer of Hope for Condominium Developers

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On September 26, 2013, the House of Representatives took a major step in simplifying the sale and lease process for condominium developments, voting 410/0 in favor of H.R. 2600, introduced by New York Republican...more

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