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Old 12-10-2008, 09:07 AM
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Join Date: Dec 2008
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HOA Foreclosure

What is the name of your state (only U.S. law)? Florida

Our HOA was never turned over to the owners as the development is not completed. The builder has gone bankrupt and the bank is the new owner. Does the bank have to honor the terms of the original prospectus which stated that the builder would subsidize the HOA until the development was completed?
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Old 12-10-2008, 10:54 AM
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Join Date: May 2000
Location: Catatonic State
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Quote:
Originally Posted by hbv2020 View Post
What is the name of your state (only U.S. law)? Florida

Our HOA was never turned over to the owners as the development is not completed. The builder has gone bankrupt and the bank is the new owner. Does the bank have to honor the terms of the original prospectus which stated that the builder would subsidize the HOA until the development was completed?
**A: it depends upon what happened in BK.
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