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Real Estate & Property Law

: The Home Equity Theft Reporter

Onslaught Of Chapter 11 Filings Expected From Condo Associations Suffering From Decrease In Maintenance Fee Collections, Deadbeat Unit Owners?

By r morris

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In South Florida, the Daily Business Review reports:In a move an increasing number of condo associations are expected to follow, the Maison Grande in Miami Beach has filed for bankruptcy.(1) Facing almost $1 million in claims by unsecured creditors, a troublesome recreational lease, and at least 100 unit owners [out of 502] delinquent on payments of their fees, the association filed a Chapter 11

Full post as published by The Home Equity Theft Reporter on July 13, 2009 (boomark / email).

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