718.622 – Saving clause.
718.622 Saving clause.— (1) All notices of intended conversion given subsequent to the effective date of this part shall be subject to the requirements of ss. 718.606, 718.608, and 718.61. Tenants given such notices shall have a right of first refusal as provided by s. 718.612. (2) The disclosure provided by s. 718.616 and required by ss. 718.503 […]
718.701 – Short title.
718.701 Short title.—This part may be cited as the “Distressed Condominium Relief Act.” History.—s. 18, ch. 2010-174.
718.702 – Legislative intent.
718.702 Legislative intent.— (1) The Legislature acknowledges the massive downturn in the condominium market which has occurred throughout the state and the impact of such downturn on developers, lenders, unit owners, and condominium associations. Numerous condominium projects have failed or are in the process of failing such that the condominium has a small percentage of third-party unit […]
718.703 – Definitions.
718.703 Definitions.—As used in this part, the term: (1) “Bulk assignee” means a person who is not a bulk buyer and who: (a) Acquires more than seven condominium parcels in a single condominium as set forth in s. 718.707; and (b) Receives an assignment of any of the developer rights, other than or in addition to those rights described […]
718.704 – Assignment and assumption of developer rights by bulk assignee; bulk buyer.
718.704 Assignment and assumption of developer rights by bulk assignee; bulk buyer.— (1) A bulk assignee is deemed to have assumed and is liable for all duties and responsibilities of the developer under the declaration and this chapter upon its acquisition of title to units and continuously thereafter, except that it is not liable for: (a) Warranties of […]
718.705 – Board of administration; transfer of control.
718.705 Board of administration; transfer of control.— (1) If, at the time the bulk assignee acquires title to the units and receives an assignment of developer rights, the developer has not relinquished control of the board of administration, for purposes of determining the timing for transfer of control of the board of administration of the association, a […]
718.706 – Specific provisions pertaining to offering of units by a bulk assignee or bulk buyer.
718.706 Specific provisions pertaining to offering of units by a bulk assignee or bulk buyer.— (1) Before offering more than seven units in a single condominium for sale or for lease for a term exceeding 5 years, a bulk assignee or a bulk buyer must file the following documents with the division and provide such documents to […]
718.707 – Time limitation for classification as bulk assignee or bulk buyer.
718.707 Time limitation for classification as bulk assignee or bulk buyer.—A person acquiring condominium parcels may not be classified as a bulk assignee or bulk buyer unless the condominium parcels were acquired on or after July 1, 2010. The date of such acquisition shall be determined by the date of recording a deed or other instrument […]
718.708 – Liability of developers and others.
718.708 Liability of developers and others.—An assignment of developer rights to a bulk assignee or bulk buyer does not release the original developer from liabilities under the declaration or this chapter. This part does not limit the liability of the original developer for claims brought by unit owners, bulk assignees, or bulk buyers for violations of […]
718.71 – Financial reporting.
718.71 Financial reporting.—An association shall provide an annual report to the department containing the names of all of the financial institutions with which it maintains accounts, and a copy of such report may be obtained from the department upon written request of any association member. History.—s. 9, ch. 2017-188.