Should a Condo Association have an attorney review the LMF agreement before signing?
It is always wise to have an attorney review legal documents. We recommend Associations have our documents reviewed by their business attorney, or the attorney that drafted their condo documents. We do not recommend Associations have our documents reviewed by an Association attorney if that attorney is currently engaged in claim of lien and collection work for Association, as a conflict of interest exists. LMF’s legal counsel is always available to discuss legal issues directly with the Association’s attorney. LMF can also provide references to reputable and non-conflicted attorneys that have already reviewed our agreement. These attorneys typically charge $500 to advise associations of their rights and obligations under the LMF Purchase Agreement.
