Manhattan Club Lawsuit

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Original Message:

Re: Manhattan Club Lawsuit (by Nathan Z.):

William, if someone is behind on their fees, they cannot simply “give back” their unit. There is a lienholder (either the lender or the condo association) who has to release the Ilen. Perhaps you are familiar with short sales. In any event, it’s not as simple as you make it out to be. And BlueGreen can’t just forgive money owed to the condo association. I doubt even the Board could do that. If there is a forgiveness of debt, it will have to be done properly, including reporting it to the IRS. Good luck with that.