A developer must sell all of the lots in a development project and repay the entire development loan before any of the new property owners can receive a clear title.

Question

Quizplus · Accepted Answer

The process of selling lots and repaying the development loan does not necessarily need to be completed before new property owners can receive a clear title. Property titles can be transferred to new owners once their individual lot is paid for and any necessary conditions are met, independent of the status of the entire development project or loan.

A Developer Must Sell All of the Lots in a Development