Planned number Units not built.

Started by HazelB • 1 replies • 696 views

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HazelB (South Carolina)
Posts: 1

Posted:

Are the covenants and bylaws legal if the developer went bankrupt and did not build the planned number of units?
Also, how can we find out if the common areas were ever deeded to the HOA? Also was does PUD mean for the owners?

TimB4 (Tennessee)
Posts: 21,062

Posted:

Properly recorded covenants remain in effect regardless of how many lots were developed.
Bylaws would also remain in effect.

Whomever owns the lots now also have the declarant rights.
This may be the bank or a different company.

Ownership of common areas should be recorded at the local property records office or courthouse.

PUD = planned unit development

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