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Calif. Court Sides With Investor In Condo Voting Rights Fray

Law360, New York (October 18, 2012, 8:27 PM EDT) -- A California appeals court ruled Thursday that a real estate investment unit held voting rights to disputed condominium space, saying the initial owner's declaration of interest in the property allowed transfers to be made to third-party assignees, not just direct assignees.

The initial owner of the mixed office and retail units within the Metrowork Condominium Association, India Street Venture LLC, signed a construction trust deed that transferred its security interest and associated voting rights to KeyBank NA as part of a $21.5 million loan transaction.

A three-judge...
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