SAN FRANCISCO, April 18, 2012 /PRNewswire/ -- Owners of residences at a condominium building in the Mission District have recouped $650,000 for numerous construction defects, including water intrusion through the roof, windows, decks, siding and doors and failures in the plumbing, electrical and mechanical equipment.
The 8-unit residential and 3-unit commercial building at the 3365 20th Street Homeowners Association reached a settlement in mediation after only 7 months from the date of the filing of the complaint in Superior Court. The recovery is being funded by insurance companies for the builder, general contractor and subcontractors.
These units were built in 2001 by R.A.M. Development, Inc. and sold at the height of the market as luxury condominiums by the 3365 20th Associates, LLC.
"Most builders today are setting up their developments as Limited Liability Company (LLC's), folding the company after the project is completed," said attorney Thomas E. Miller of The Miller Law Firm. "Oftentimes, condo owners don't realize that insurance does exist to cover construction defects even after the builder disappears, declares bankruptcy, or just walks away. Many times on smaller projects the developer requires its general contractor to get insurance. And that insurance may have exclusions affecting the coverage. Had we waited any longer to bring this claim, all the general contractors insurance would have been exhausted on another lawsuit filed against it months earlier. It pays to act quickly."
Stephanie Hall, Vice President of the Homeowners Association, states, "We are thrilled that this settlement occurred in less than one year from the time we filed our complaint. It proves that the court system recognizes claims, which can be resolved in an efficient manner. Our Association will now be able to fix the defects that affected our daily lives."
Thomas E. Miller and his partner and daughter, Rachel Miller, of The Miller Law Firm (www.ConstructionDefects.com) have recovered over $500 million on behalf of California Associations with construction defects, and are the co-authors of "Home and Condo Defects: A Consumer Guide to Faulty Construction," (Seven Locks Press, 2012), available online at www.amazon.com.
Detailed information regarding this case can be accessed via the San Francisco Superior Court website at www.sfsuperiorcourt.org, case number CGC-11-511709.
Media Contact: Rachel Miller
SOURCE The Miller Law Firm