Little-Used Law Gives Condo Buyers a Way Out

August 13, 2010 – Media Mention
City Room, the law blog of The New York Times
Douglas Heller opines that the Interstate Land Sales Full Disclosure Act makes little sense in the New York City condo world because required disclosures contain irrelevant information that often duplicates what is in the offering plan. The posting analyzed a recent decision in federal court that allowed three buyers of condo units to rescind their contracts and retrieve their deposits because a condo sponsor had not made disclosures that the statute requires.