Does a Successor Developer Have an Obligation to Pay Assessments under the Michigan Condominium Act?

The recent upswing in the real estate market has led to a resurgence of failed condominium projects in Michigan. During the economic downturn, many condominium developers went out of business and lost title to all of their units via a deed in lieu of foreclosure, foreclosure by a bank, tax foreclosure or bankruptcy leaving many condominiums unfinished.    Read the article……………


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