Tuesday, July 1, 2008

I've heard about real estate developments being a bomb, but this is ridiculous

CNN is reporting about a subdivision in Orlando that apparently contains, oh, live bombs.

Yes, you read that right.

I don't know what the law is in Florida, but I can't see anything that would actually cover this on a disclosure report in Illinois. Maybe that's because no one in their right mind ever thought someone would build on a, um...bomb range. I've heard about unexploded ordinance in the UK many times, but here? Not so much.

Interestingly,

Nearly two decades ago, the 1989 development order, in which the county granted the permission to develop the land, shows that builders and developers knew "of the site's history of military use."
Wouldn't the terms of a development order typically show up on a title report? Was this excluded, and why? I know I have seen development orders when reviewing title before? Of course, there will be inevitable lawsuits against the developer for failing to disclose this. No one wants to buy, no one wants to lend, so what will be the outcome? I'll be in touch with friends in Orlando to see if there's anything more here worth discussing.

1 comments:

mark said...

Wow that is crazy!!

I've heard a lot of things about property but never built on a bomb site!! Nukes, yah, graveyards, yah, but never just straight up bombs that still might be live lol...

Good luck.

 
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