Condominium Conversions – What Is Covered Under Developer Warranties?
Condominium conversions are existing rental apartment buildings where legal ownership is changed to a condominium form of ownership. Since these buildings were in existence for several years prior to conversion, they often deteriorate quickly or suffer from deferred maintenance. Most purchasers are unaware that Florida law reduces the statutorily imposed warranties and liability on a developer selling a conversion, as opposed to new construction. Read the article……..