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A Condo Board Tries to Get Foreclosure Proceeds Ahead of the Bank. Can It?
Written by Richard Siegler and Dale Degenshein on April 29, 2014
When a sponsor is in arrears to both a lender and a condominium, can the condominium get some of the money it is owed before the lender does? Usually, you can't — but the condo board at 455 Central Park West made some novel arguments that are worth knowing about.
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