Lenders beware: there are some circumstances in which a lender may be directly liable to third parties for construction defects as a principal or alter ego of the developer....
The recent change to §558.005 of the Florida Statutes appears to make that statutory code applicable to all claims for construction defects when the construction contract was executed October 1, 2009 or later. However, due to a hidden loophole in the statute, this may not be the case....
Home and condominium sales throughout the country are taking a hit. Many home and condominium developers have defaulted on construction loans resulting in an explosion of distressed projects....
Florida's afternoon thunderstorms can result in water intrusion through windows, roofs or other portions of the building envelope. Every owner should be vigilant and take necessary steps to protect their rights....