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Property Law Keyed to Singer
Cambridge Co. v. East Slope Investment Corp
Facts
A condominium declaration creates a right of preemption in unit owners, which is defined as having the first right to purchase a unit. This right states that when a unit owner decides to sell and receives a bona fide offer, the unit will first be offered to the remaining owners for the same terms and conditions as the bona fide offer. The unit owners have five days from the date of receiving notice of the offer to accept, otherwise the third party may buy the property.
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