“A well-structured condominium project is easier for buyers and lenders to understand, making the project more marketable.”
A solid understanding of condominium law can be invaluable to real estate developers, as well as unit owners and condo owners’ associations. At McGrath North, our experts in condominium law provide strategic solutions to issues involving both the development and operation of new and existing projects. With respect to the establishment of condominiums, we advise our clients on issues involving land use and planning, zoning restrictions, local ordinances and corporate formation documents related to financing, construction, taxes and sales. We also assist residential and commercial occupants and owners’ associations with legal issues related to operation and maintenance and capital repair and replacement projects. Typical owner’s association issues include insurance coverage, negotiations among unit owners, election of board members, dispute resolution and enforcement of rules and bylaws.
If you are considering seeking advice from counsel, here is what we suggest you keep in mind:
- Insist on an honest and complete assessment of the challenges you will face at the beginning of a project, including a thorough assessment of potential costs.
- Establish whether your legal counsel has significant expertise in condominium law to resolve these challenges.