The owner of 506 Bloomfield has a right of first refusal to purchase 504 Bloomfield.

The owner of 506 Bloomfield, who currently owns the rear half of the basement , holds a right of first refusal on the purchase of 504 Bloomfield. If this right is not exercised by the co-owner, the Seller shall take the necessary steps to transfer ownership of the basement portion back to 504 Bloomfield prior to the signing of the deed of sale.

The co-owners have been managing the property informally and there are No Condo Fees paid monthly and there is No Contingency Fund. All the Expenses such as building insurance, heating, and any necessary repairs are paid jointly by the co-owners. The documents such as meeting minutes, budgets, financial statements, contingency fund study, self-insurance fund, and the certificate of the state of the co-ownership, have never been prepared.