Top 10 Considerations When Acting for a Purchaser of a Condominium Unit

SKU: 61996.03

The purchaser of a condominium unit is buying an interest in both the real estate and the condominium corporation. Therefore, a lawyer acting for such a purchaser must be vigilant in reviewing, at a minimum, the condominium corporation documents in addition to the real estate aspects of the purchase and finance. This paper concisely and thoroughly discusses ten key considerations lawyers should be mindful of when they act for purchasers of condominium units, including financial statements and budgets, reserve fund studies, real property reports, estoppel certificates, bylaws, among other things.

This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate program from April 24 – 26, 2016.

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