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The collapse of the condominium
market in the U.S. has resulted in a
flood of litigation. During the
booming condominium surge across the
country, many condominium developers
responded by building or converting
condominiums at a record pace. After
the market’s collapse, developers
were stuck with a huge inventory of
unsold condominiums. This caused
developers to abandon current and
planned condominium projects (in
particular condo-conversions) in
droves. Angry condominium buyers
responded by taking developers to
court, alleging everything from
breach of contract to fraud.
During every boom period of
condominium development, it is
common to see a corresponding boom
in condominium litigation. However,
the current upsurge in litigation
differs from that in years past.
Much of the condominium litigation
in the past related to construction
defects and were typically asserted
against the contractor and
subcontractors. In contrast, the
litigation today is by condominium
owners suing the developers for
fraud and breach of contract for
failing to complete the project.
Other common claims include the
litany of federal and state statutes
that govern the relationship between
condominium purchasers and
developers.
Belt Law Firm, PC is involved in
a number of condominium litigation
matters, including cases in Florida
and Las Vegas, Nevada. If you feel
you were the victim of an
unscrupulous developer, feel free to
contact us to discuss your legal
rights. |
