North Carolina Condominium Law

I apologize for the long delay in posting any new blog article.  Technical difficulties, plus a bum gallbladder in the need of immediate removal, has slowed things down.  However, I am back now, and so is some of my condominium development activity which kept me so busy just two short years ago.  Fortunately, or unfortunately, it now comes in two different forms.  First, I am seeing that some of those folks who had planned for condominium, or planned unit townhomes, on their property, are now instead opting to create apartments funded by HUD 221(d)(4) loans.  Their hope is that the project might someday be converted to condominium.  Second, I am finding that some owners of apartment projects, finding themselves in financial difficulty, are declaring their projects as condominium for the purpose of keeping their heads above water by selling off some or all of the project prior to institution of foreclosure proceedings against them. 

Because condominium work continues, I thought that it would be helpful to provide my readers with some helpful information answering some of the commonly asked legal questions in condominium projects in North Carolina.  Tune into my next several posts.