Time to Rehab the Aging Condominium Concept - Fixing Problems Uncovered By The Great Recession

Bilzin Sumberg
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The condominium concept in the United States is now over 55 years of age. Many of the early condominium projects are old and in need of rehabilitation or cannot economically be rehabilitated and are candidates for demolition and redevelopment. This article identifies issues that have been exposed and presents a modest proposal that future condominium statutes and documents include provisions that would help in any future downturns.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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