Florida Condo law changes effective July 1, 2010
By Al Raymondi, Ormond By The Sea Florida - Home and Condo Sales
(Ocean View Realty Group in Ormond By The Sea Florida)
Florida Senate Bill 1196, The Distressed Condominium Relief Act, has passed the legislature, has been signed by Governor Crist and becomes effective July 1, 2010. The new changes will impact Florida Statutes Chapter 718 (Condominiums); Chapter 719 (cooperatives); and Chapter 720 (Homeowners Associations). I concentrated on the condo changes that may impact Ormond By The Sea condos. The most significant change to the condo law involves: • Information maintained in the official Condo Association records and unit owners access to official records. • Lenders acquiring title to a condo unit after July 1, 2010 will be liable for 12 months of unpaid assessments. • Condo Associations may demand rent from tenants whose owners are delinquent. • Condo Associations may fine individuals for v...
Comments
3