ASPEN SNOWMASS REAL ESTATE – Legal action continues to mount against the Snowmass Base Village owner and its Viceroy condo hotel development, while the deadline originally set for closings on the units has passed with none taking place.The latest lawsuit brings the total number of Viceroy units caught up in litigation to 53 — out of approximately 80 contracts signed and 152 available units for sale.Meanwhile, attorneys for plaintiffs representing 48 of the units have successfully combined their legal actions and are asking for summary judgment on one of the claims — which means that part of the case might be decided within the next month.All of the litigants are trying to get out of their contracts — and recoup their 15 percent deposits — based partially on a federal consumer protection law called ILSA (the Interstate Land Sales Full Disclosure Act) which gives purchasers two years from signing purchase agreements to break them if certain documents detailing the layout of the units weren’t filed in time.Plaintiffs also claim that the developer, Related WestPac, made false representations in marketing and sales efforts. Additionally, they argue that the property values were negatively impacted as a result of the partially completed Base Village and the isolation of the Viceroy.
By Catherine Lutz, April 29, 2010 Aspen Daily News

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