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Can condo developer walk away with about 50% of units completed?

| Condo Developer Issues |  


Question:

Our condo development of 750 units is stopped at 300 by the developer. The unsold inventory is sold to an "investor", who is selling the condo units at a discounted price.

It was said the Condo Association will be turned over in 60 days. Can the developer turn the communuity over with 300 doors or must it stay at 750? What about condo reserves, presently there are none, the roads need a finish coat and the clubhouse requires repairs. Is the condo developer responsible or can they walk away?


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