National Condominium Act - Establishes minimum national standards for all condominium units the sale of which is financed with Federal assistance in any form, and encourages the States through a new program of Federal grants to establish such standards to protect both the residents of previously leased units to be converted and the potential purchasers of such units from undue hardships and unexpected economic expenses.
States that any person who willfully violates any of the provisions of this Act shall be fined not less than $15,000 and/or be imprisoned for not less than two years.
Introduced in House
Introduced in House
Referred to House Committee on Banking and Currency.
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