Effect of Dissolution of Condo Developer – Washington Supreme Court Speaks Out
In Ballard Square Condominium Owners Ass’n v. Dynasty Const. Co., 126 Wn. App. 285, 108 P.3d 818 (2005), the Washington State Court of Appeals did a relatively extensive analysis of Washington’s corporations statute in determining that the dissolution of the corporation prior to the time that the claim for damage arose did, in fact, cut off the claims of the homeowners’ association under Washington law. The reasoning of the decision caused some to believe that the early dissolution of a developer and builder of a condominium is a legitimate “strategy” in setting up transactions. View full article (PDF).