360 Unit Owners Dragged In As Defendants In Mechanics Lien Lawsuit Between Contractor, Condo Developer

In Northern Virginia, Washington Business Journal reports:

• As the sun set over Potomac Yard on Nov. 7, owners at The Eclipse condominium community came home to an unpleasant surprise. Nearly three-quarters of the units had a two-inch-thick stack of legal papers on their doorsteps, notifying the owners that every one of them was being pulled into a lawsuit between their developer and the construction company that built the 465-unit project just south of Reagan National Airport.

• The owners’ predicament is just one more wave in the economic undertow that has swept up banks, developers, builders and homeowners alike. For the owners — some of whom took a risk in buying a unit in a troubled building in the first place — the lawsuit was yet another setback.

For more, see Condo owners caught in crossfire of builder dispute. StiffingContractorsTheta