California court: Condo owners must pay assessments on air

Buyers could end up paying after first condo completed or face foreclosure
by Staff Writer
February 10, 2006

If you’re working with investors considering buying unbuilt condominium space in California, be sure they read the condo governing documents before the purchase. If the covenants, conditions and restrictions (CC&Rs) tie the payment of assessments to the completion of the first condo in the development, buyers must pay assessments on their “air lot” or face foreclosure, a California appellate court has ruled in Bear Creek Master Association v.