What is a Disclosure Statement and What is Required?
In Michigan, condominium developers are required to provide several documents to prospective purchasers of a condominium. Pursuant to MCL 559.106, “Developer” is defined as “a person engaged in the business of developing a condominium project as provided in this act”. In addition to original developers, the Condominium Act imposes similar requirements upon “Successor Developers”. MCL 559.235 states in part “As…
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