Foreclosures and Priority Issues
August 19, 2013
One of the unfortunate realities of the residential real estate market in the past several years has been foreclosures. A foreclosure is the process by which a secured party recovers a balance due by exercising its interest in secured collateral. Typically, this means that a bank forecloses on a home. In Tennessee, we have deeds…
READ MORECondominium Purchaser Information Requests
July 22, 2013
Recently, we discussed required disclosures related to the sale of a home and a condominium unit. Such required disclosures are governed by Tenn. Code § 66-5-213(b). Outside of these required disclosures, a purchaser of a condominium unit may request additional information from the condominium association. It should be noted that the previously discussed information is…
READ MOREThe “Four Maples” case and when a Tennessee association owes a duty to provide security…
July 8, 2013
Some developments, be they condominiums or planned residential developments, are gated. Others provide various types of access control into and out of the development. This access control, in the form of gates, manned access points, cameras, keycards, etc., is generally viewed by the public as security. To the homeowner the additional security is a benefit…
READ MOREWhat is a “Unit” in a Tennessee Condominium?
June 24, 2013
Previously, we briefly touched on what is a Unit in a condominium development. Given that there is often a great deal of confusion about what a Unit Owner in a condominium development in Tennessee actually owns, it seems prudent to expand upon the concept of what a Unit actually is. First, there is no common…
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