Quote:
Originally Posted by KeepingItReal
Bloomberg Articles
Billionaire Morse
IRS questions bonds from GOP donor development - Businessweek
After closing in November 2011 it was some time before I heard anything about the on going IRS problems.
I am wondering if this un-resolved IRS issue was not required to be disclosed to all prospective buyers before their closings, in fact I am pretty certain it was required?
Florida’s Required Real Estate Disclosures
Florida business and real estate attorneys Roddy Lanigan and Eric Lanigan have represented buyers, sellers, developers, appraisers and contractors in residential and commercial litigation.
There are an increasing number of mandatory disclosure obligations placed on those who sell Florida real estate and it’s hard to keep up with all the new requirements.
Here are a summary of disclosures required for Florida residential transactions units. Many of the following disclosures are required on commercial transactions. Local residential disclosures may exist so it is always prudent to inquire about such requirements before escrow closes.
The Top Real Estate Claim
The No. 1 claim on Errors & Omissions Insurance is “failure to disclose” an item that a buyer felt was material. There are some general guidelines to help protect against non-disclosure liability lawsuits. Part of this is ensuring that all real estate documents are reviewed by an attorney before signature. A key factor is to ensure that all disclosures are in writing and which have acknowledgment signatures.
Disclosures That Are Required
TDS (Transfer Disclosure Statement)
This law requires sellers to give prospective buyers a written disclosure statement of items including possible easements, neighborhood issues, appliances, structural defects, modifications, and other material defects that may affect the principal’s decision in a transaction. |
I have been saying since this situation was discussed in 2009 that that the Professional Liability insurance carriers for both the Developer and the district needed to be notified.
Too many posters are beating that same dead horse, defending the Developer, etc. But the bottom line is what are we as residents going to do to protect our interests? IMHO that's all that matters now