West Palm Condo Residents Win Fight Against Bulk Buyer Making Low Ball
Litigation and Dispute Resolution attorneys Matthew Zimmerman, Seth Welner, Jeffrey Schacknow and Alex Englander were mentioned in a Palm Beach Post article covering their pro bono work in partnership with Legal Aid Society of Palm Beach County that resulted in a victory for residents of Sandpiper Village Condominiums (Piper Village West) in West Palm Beach. They successfully defended against bulk buyer Piper Ventures, which sought to terminate the condo agreement and force remaining owners out with low-ball offers. A Palm Beach County Circuit Court judge ruled in favor of the residents, affirming their rights under Florida law to fair market value for their properties and protecting minority condominium owners from the influence of bulk owners. The attorneys commented on the significance of the ruling.
"The judge's ruling confirmed that the law as written won't allow a termination like this. They're thrilled to have some assurance they can keep their homes," said Mr. Schacknow.
"Florida law is clear that bulk condo buyers can't sweep into condo complexes and try to buy remaining units without certain rules in place," added Mr. Zimmerman.
READ: West Palm Condo Residents Win Fight Against Bulk Buyer Making Low-Ball Offers. Here's How. (Subscription required)