May 25, 2012

When is Enough, Enough? Whether the development was a success or failure, when can final distributions be made and the entity dissolved? (FL)

When can you make final distributions and dissolve your developing entity?  Before you distribute and dissolve, keep in mind that your creditors and liabilities have to be accounted for. And, yes, warranty claims, as specious as they can be, need to be included as a potential liability. For some of the potential ways a creditor can claw back distributions, see Section 726.110, F.S. on fraudulent transfers (Florida). 

©2012 Greenberg Traurig, LLP. All rights reserved.

About the Author

Shareholder

 

Gary A. Saul is one of the nation's leading attorneys in the area of condominium law.

305-579-0500

About the Author

Shareholder

 

Meredith Singer has been with Greenberg Traurig since 2001. With over 8 years of experience representing developers in the structuring, creation and operation of residential, commercial, mixed-use and hotel condominiums, homeowners associations, warehouse/office parks and planned developments, Meredith’s experience centers around the structuring and initial sales and marketing of condominium projects, planned communities and complex mixed-use developments. Meredith's practice also focuses on advising developers, lenders and purchasers in confronting the issues...

305-579-0500

Contributors

Associate

Staci J. Rutman represents developers in the creation and operation of residential, commercial, mixed-use and hotel condominiums. She is invloved from the initial sales and marketing of condominium projects through the closeout of all units and the developer's turnover of condominium control.

305-579-0787

About the Author

Associate

Sabrina E. Little focuses primarily on the representation of developers in connection with condominium development.

305-579-0500

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