Development Developer Transitions
Development and Developer Transitions
The attorneys at Winer & Bennett are able to assist developers with the formation of residential and commercial condominiums. Behind the construction of any condominium lies substantial efforts relative to proper planning, proper drafting of condominium instruments and proper permitting. Our team is able to assist during every step of the process. With proper legal guidance and advice, a developer can create a site that is not just physically impressive but also geared for successful operations as a result of thoughtful instruments, appropriate budgets and record keeping, and the establishment of sufficient financial resources and policies.
Once developed, an association must be transitioned from the developer to the organization of unit owners. This transition will only happen once, so it needs to be accomplished correctly. Winer & Bennett is able to offer new organizations of unit owners the legal representation necessary to ensure a timely, proper and successful transition. In accord with our philosophy of problem avoidance, we utilize a strategic plan that involves financial, construction and engineering professionals early on. This procedure arms the organization of unit owners with the information and raw data necessary to make intelligent and informed decisions regarding the status of the community and the obligations, if any, that need to be met by the developer. The use of accurate and objective data may result in amicable resolutions that reduce or even eliminate controversial issues between the outgoing developer and the incoming organization of unit owners. It also prepares the new board to effectively plan and manage.