Cozen O’Connor: Rules of Disclosure

Rules of Disclosure

Tuesday, February 28, 2017

Leni Cummins, a member of Cozen O’Connor’s Real Estate Practice Group, discusses the rules and regulations related to disclosure for condominium and cooperative unit sales in The Cooperator. Leni notes that, “Boards of condos and co-ops are not typically parties to purchase and sale transactions in their buildings. Therefore, boards owe no duty to disclose [many of the issues discussed in this piece] to buyers. In fact, doing so could expose the board to liability for ‘tortious interference’ with the contract.” She explains that, “If a board discloses something to a buyer that causes the buyer to walk away from the deal, the seller would have a potential cause of action against the board for the loss of the buyer.”

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Contacts

Leni Morrison Cummins

Member

lcummins@cozen.com

(212) 883-4954

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