Condo Buyers Can't Use ILSA To Void Purchase, 2nd Circ. Says

Law360, New York (December 20, 2012, 8:13 PM EST) -- The Second Circuit on Wednesday said a New York City luxury condominium buyer can’t void the sale under the Interstate Land Sales Full Disclosure Act, finding a description of the property in the sales agreement fulfilled the requirements of the act.

The appeals panel reversed a lower court’s finding that Vasilis Bacolitsas and Sofia Nikolaidou were correct in their assertion that their agreement to purchase a $3.4 million condo at The Brompton development on New York's Upper East Side is revocable because it failed to provide...
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