Spencer Fane Partner Rob Epstein was recently featured as a guest columnist in Builder News sharing his vast knowledge and insight on legal issues surrounding types of ownership in residential developments. The article, titled “Things to Keep in Mind When Choosing Form of Ownership” points out the risk to builders of setting up a condominium form of ownership, and discusses the option of a development with subdivided lots. Epstein mentions the Uniform Condominium Act adopted by the Missouri legislature, and how the act requires the owner/developer “to have certain responsibilities and to make certain disclosures in connection with the creation, development, construction and sales of condominium units.” He goes on to explain that “if a developer chooses to go with a condominium, the time and expense of drafting documents is generally greater than drafting a subdivision declaration and homeowner’s association documents.” Read the complete article from Builder News here.
