Clair Law Offices to Argue on Behalf of Financial Lenders Before Wisconsin Supreme Court
WISCONSIN SUPREME COURT ARGUMENT – UPCOMING
CLAIR LAW OFFICES TO ARGUE ON BEHALF OF FINANCIAL LENDERS
BEFORE WISCONSIN SUPREME COURT
The Wisconsin Supreme Court granted a Petition for Review filed by Clair Law Offices on behalf of one of our financial institution clients after the Court of Appeals ruled against the financial institution and in favor of a condominium association.
Clair Law Offices is thrilled to announce that Attorney Edward F. Thompson will make the case for our banker client and for thousands of financial institutions whose mortgage loans and liens are at serious jeopardy. Attorney Thompson will present arguments that a condominium association’s policy which forbids the use of all recreational facilities to owners of any unit upon which assessments are delinquent, regardless of whether the association’s rights were eliminated by foreclosure, violates Wis. Stats. §703.165(2); and, that a condominium association’s policy requiring the Bank or its successors in interest to pay unpaid condominium dues and assessments, incurred prior to the confirmation of sale to the Bank, affected the quality of the unit’s title or marketability in violation of Wis. Stats. §703.10(6).
When financial institutions are pricing and deciding to underwrite a condominium loan, they rely on Wisconsin law to provide certainty that if the financial institution is required to foreclose upon the property and take possession through an involuntary transfer (Sheriff’s sale), any past due assessments owed by the previous owner will not become the obligation of the financial institution or a new buyer the financial institution finds for the condominium unit.
Clair Law Offices will keep you updated after oral arguments are concluded before the Wisconsin Supreme Court.