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Can a developer change the Disclosure Statement without a purchaser’s approval?

April 26, 2017Approval Developer disclosure purchaser

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Can a developer change the Disclosure Statement without a purchaser’s approval?

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A. Yes. A developer is required to file an Amendment to its Disclosure Statement if a material fact has been omitted, changed, or misrepresented. Each purchaser who has not completed his or her purchase must be given a copy of the Amendment. See section 16 of the Act.