Keeping the “Fair” in Fair Value: Diane R. Rubin Authors Article in REBA News

In the Press · March 14, 2011

Last July,
the Legislature amended the Massachusetts Condominium Statute clarifying how
developers may structure condominium master deeds when a condominium includes
affordable housing units. The amendments to Sections 5 and 6 of Chapter 183A make
clear that a developer can now take affordable housing deed restrictions into
consideration when assigning the percentage of beneficial interest in the
common areas and facilities.

Until these
changes went into effect, there was confusion, as well as litigation,
concerning what “fair value” meant for units subject to affordable housing deed
restrictions. Click the link below to
read Diane’s article, which appears on page four.