Court puts condo investors on the hook for shoddy construction

New York City condo investors may increasingly find themselves having to dig into their wallets to pay for any construction defects, according to a new court ruling. The Appellate Division of state court upheld a ruling last week that a condominium board does not have to prove a fiduciary or confidential relationship between itself and the building’s sponsor when suing over construction defects. The ruling, if it stands, will make it easier for condo boards

source https://therealdeal.com/2020/11/04/court-puts-condo-investors-on-the-hook-for-shoddy-construction/