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If we sign a copy of he prop lease that does not indlude updated amendments at a closing (I.E. it is not current and is an older copy form an Offering Plan) how can his be remedied?
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The lease presented is an old copy from the Offering Plan it does not have the newer (significant) amendments like roof rights, subletting changes, etc.
The attorney says the older one is not a viable lease. What of all the new buyers that have signed a non-viable lease?
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I'm not a lawyer, have you spoken to your closing attorney? I'm not sure how much the proprietary lease could change. It's not an easy job to change the original lease, so I would suggest contacting your attorney and have him obtain the new one and compare them for material differences. Amendments are required annually by the sponsor until all the units in the project are sold. If they were not issued, that is an issue with the sponsor and the attorney general can be contacted. Your attorney should have picked up on that as well. Whether or not there is something that can or should be done would probably depend on the significance of the lease changes and the contents of the amendments.
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