Condo Terminations: Breaking Up Gets Harder to Do

On June 16, Gov. Rick Scott signed House Bill 643 into law, making sweeping changes to Section 718.117 of the Florida Condominium Act relating to terminations of condominiums.  The changes, which are effective immediately, make optional terminations of a condominium more difficult. The number of optional condominium terminations rose during the recent downturn in the real estate market when developers that owned a majority of units in a condominium development wanted to convert the condominiums to rental apartments or sell the property for conversion to rentals.     Read the article………..

Editor

Recent Posts

Waterford Residential Community awarded CAI Seal of Distinction (NC)

The Board of Directors of Waterford Master Residential Association has announced that the Community Association…

1 hour ago

Burnaby owner accused of tossing garbage from 9th-floor balcony wins strata battle (BC)

A Burnaby condo owner has won a victory over his strata after it accused him…

1 hour ago

Costly Condo Concerns: New Florida laws could increase fees. Will the market remain resilient?

For condominium owners or buyers in Florida, it was a one-two punch, a vicious combination…

1 hour ago

A Guide To HOA Board Responsibilities

Serving on the board of a homeowner association is a high calling. Well meaning volunteers…

2 hours ago

Judge declares Tahoe poison test illegal (CA)

The state water board in charge of Lake Tahoe broke California laws and its own…

2 hours ago