Warning to (FL) HOA’s: Your rules, restrictions may be expired
The Florida Marketable Record Title Act (“MRTA”), enacted by the Florida Legislature in 1963, was intended to clear up old title defects on property by creating a mechanism for extinguishing title interests of record that were more than 30 years old and were not specifically reserved. However, MRTA has had the unfortunate side effect of extinguishing many homeowners’ association (“HOA”) covenants that are more than 30 years old which has jeopardized many HOA’s authority to enforce the restrictions found in their covenants. Read the article…………..
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