|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.
If you are a Texas resident, contact our Dallas law firm, Mullen and Mullen.