Hyatt & Stubblefield, P.C.'s extensive experience in drafting community governance documentation and advising developers on association and club operations makes us uniquely qualified to assist lenders and developers in conducting due diligence reviews of association and club matters to help identify potential problem areas and evaluate risks prior to foreclosure or acquisition of a distressed project.
Failure to fully evaluate community governance documentation, association operations, and the status of developer rights and obligations in distressed communities can lead to unanticipated costs and liability and, in some cases, result in substantially less value than estimated. Issues can be compounded when there are existing property owners in a community with established rights and expectations, particularly when changes are needed to reposition the community for sale.
Our services include:
due diligence review and analysis of community governance documents;
evaluating successor declarant status and liabilities;
developing and implementing strategies for addressing issues and dealing with existing property owners; and
advising on steps to minimize the risk of future litigation.