There may be a variety of benefits to living in a condominium and studies indicate that similar living arrangements are in high demand in various areas. Condominium associations in New York that wish to capitalize on opportunities to meet market demands may choose to expand operations by initiating new condo projects, but there may be some level of risk involved with similar endeavors. Understanding some of the most common causes of disputes in condo development projects could be integral to mitigating risks and knowing the next steps to take should such disputes arise.
Development disputes
While conflict can arise under various scenarios, experts indicate that there are some sources of dispute in condo development projects that may prove more common than others. Contract disputes remain a common concern in this field and similar issues may often stem from factors such as payment or even performance-related concerns. Experts also state that warranty and indemnification claims also remain prevalent sources of dispute in this field.
Condominium development projects may also prompt a need for professional services and issues with these services could raise concerns of professional malpractice. Another cause of disputes may pertain to the presence of construction defects and similar issues remain unfortunately common. Implied warranties are a topic that may be unique to fields such as condo development and conflict may also stem from issues in this regard.
Choosing a path
Regardless of what form it takes, the presence of conflict in condo development projects can take a significant toll on all parties involved. Condo associations in New York that face such disputes and remain uncertain of the next steps to take could benefit from retaining the services of an attorney for advice in evaluating all their available options. An attorney can examine the situation a client is facing, provide insight in preparing to make informed choices about the situation, and assist in creating a strategy with which to safeguard the future of the endeavor.