CONDOMINIUM AGREEMENTS, PART 1 & PART 2Condominium Agreements • July 15th, 2015
Condominium developments are rapidly growing in number as the real estate sector recovers and developers seek to supply growing demand. These developments offer unit owners the benefits of many shared amenities without the hassles of owning and maintaining single family homes. For developers there are many benefits too, but also substantial risks and potential liability. Few of these are greater than creating the community that will govern the building after the developer has passed control to the condo unit owners. There are complex issues of governance structures, determining which amenities will be offered and how they will impact homeowner association fees, drafting and enforcing restrictions on unit owners, and understanding lingering liability for the developers. This program will provide you with a real world guide to planning and drafting condominium agreements for developers.
