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Home / Opinion Digests / Business Law / Pre-Incorporation Signing OK for Disclosure Packet (access required)

Pre-Incorporation Signing OK for Disclosure Packet (access required)

Although a homeowners’ association was not incorporated when debtors signed documents acknowledging receipt of the disclosure packet required under the Virginia Property Owners Association Act, the 20-month delay in incorporation did not allow debtors to cancel their agreement to buy a subdivision lot for $450,000, and a Richmond U.S. District Court upholds the bankruptcy court’s ...