Over the last year our firm has seen an uptick in offers to associations from the developer to pay money in exchange for signing a release. The language of releases can vary but the purpose is almost always the same – The money being offered to the association is in exchange for releasing the developer and any other named parties from any and all claims, known or unknown, that the association may have. These claims being released will almost certainly include claims for construction defects for the association’s amenities but can also include a release for claims related to the … Continue reading
Tag Archives: Developers
Five Factors a Court Will Likely Consider to Determine Validity and Enforceability of Amendments Recorded by Developers
The 2006 Court of Appeals case of Queens Grant II Horizontal Property Regime vs. Greenwood Development Corporation (368 S.C. 342) provides guidance for validity of amendments to the Declaration/Master Deed (Declaration) recorded by Developers/Declarants (Developer). In this case the homeowner’s association sued the Developer over the validity of an amendment it recorded to the Declaration that increased assessments. The Court upheld the amendment (except for a few units that had a special arrangement that are not relevant to this blog). The Court used the following general analysis to determine the validity of this amendment recorded by the Declarant: Please contact … Continue reading