September 2024 Newsletter

Developer Turnover: 8 Things Michigan Condo Associations Must Know when Negotiating with a Developer to Avoid Paying for Construction Defects

Successfully?transitioning control?of a condominium association from the developer to the co-owners is critical for the long-term success of any Michigan condominium.?When a developer exits a condominium project, it often requests a release of liability from the co-owner controlled board of directors.?An experienced developer has an inherent advantage in negotiating a release with a?condominium association, as most volunteer board members have never been through the process.?Unfortunately, in many cases, this allows a developer to shift the burden of repair costs onto the co-owners for construction defects.?In other cases, the developer may avoid fulfilling financial obligations, such as payment of proportionate share of expenses, assessments, or funding the reserve fund.?Read the full article here.

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