A single-floor condominium unit in a multistory building was a “lot” subject to the disclosure and reporting requirements of the Interstate Land Sales Full Disclosure Act, the 2nd U.S. Circuit Court of Appeals has ruled in affirming judgment.
The buyers of a luxury condominium unit in New York City could not revoke their purchase agreement on the ground that their developer failed to comply with the disclosure requirements of federal law, the 2nd Circuit has ruled in reversing judgment.
The purchasers of a lot in an upscale real estate development had three years to exercise their rescission rights under federal law imposing disclosure requirements in interstate land sales, the 4th Circuit has ruled in affirming a $1.7 million judgment.
Condominium purchasers may have waited too long to exercise their right to rescind their contract pursuant to federal law requiring certain disclosures in land sales, the 6th Circuit has ruled.
A condominium developer violated federal consumer protection law by failing to provide purchasers with a property report prior to their execution of purchase agreements, the 11th Circuit has ruled in affirming judgment.
Purchasers of condominium units at a planned development may rescind their sales contracts based on the developer’s failure to provide property disclosures required by federal law, the 5th Circuit has ruled in reversing judgment.