ASPEN REAL ESTATE – A London buyer of a Dancing Bear fractional ownership interest is suing the developer, claiming there hasn’t been follow-through on a settlement agreement that allowed the buyer to break his contract and get about 60 percent of his earnest money back…The buyer was seeking to get out of the contracts, citing a federal consumer protection law called the Interstate Land Sales Act. Under ILSA, buyers have two years from signing to break their contracts if certain documents pertaining to the layout of their properties were not filed by a certain time. The lawsuit claims that Dancing Bear developers failed to file documents recording the units in question.
By Curtis Wackerle, March 18, 2010 Aspen Daily News

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