The Real Deal Miami

ILSA could pose problems for developers

March 22, 2010 11:24AM

The Federal Court of Appeals for the 11th Circuit recently wrote an opinion
that severely restricts buyer-friendly interpretations of condominium
sale contracts. But the continuing flurry of Interstate Land Sales Act
lawsuits and mounting focus on the provisions of the law could pose a
problem for developers trying to rise up out of the real estate
downturn. Another wrinkle is that the law could apply to both sales and
leases, opening up a potentially wide area of liability for developers.
[Miami Herald]