Firm News
UPDATE: LIABILITY OF INDIVIDUAL PRINCIPALS OF CONDOMINIUM SPONSORS TO UNIT OWNERS FOR BREACH OF CONTRACT CLAIMS BASED ON THE PRINCIPALS’ CERTIFICATIONS IN THE OFFERING PLAN
As previously discussed in a prior blog, pursuant to the Martin Act regulations, both the Architect for the condominium and the individual principals of the Sponsor are required to provide specific certifications in the Offering Plan. The regulations provide the exact...
Insurance Concerns Under Precon Agreements
Posted by: Evan Wagowski During the preconstruction phase of larger construction projects, a construction manager (CM) almost always is retained by an Owner to act "as agent" under a Preconstruction Services Agreement (Precon). In addition to off-site preconstruction...