718.604 – Short title.
718.604 Short title.—This part shall be known and may be cited as the “Roth Act” in memory of Mr. James S. Roth, Director, Division of Florida Land Sales and Condominiums, 1979-1980. History.—s. 1, ch. 80-3.
718.606 – Conversion of existing improvements to condominium; rental agreements.
718.606 Conversion of existing improvements to condominium; rental agreements.—When existing improvements are converted to ownership as a residential condominium: (1)(a) Each residential tenant who has resided in the existing improvements for at least the 180 days preceding the date of the written notice of intended conversion shall have the right to extend an expiring rental agreement upon […]
718.608 – Notice of intended conversion; time of delivery; content.
718.608 Notice of intended conversion; time of delivery; content.— (1) Prior to or simultaneous with the first offering of individual units to any person, each developer shall deliver a notice of intended conversion to all tenants of the existing improvements being converted to residential condominium. All such notices shall be given within a 72-hour period. (2)(a) Each notice […]
718.61 – Notices.
718.61 Notices.— (1) All notices from tenants to a developer shall be deemed given when deposited in the United States mail, addressed to the developer’s address as stated in the notice of conversion, and sent postage prepaid, return receipt requested, or when personally delivered in writing by the tenant to the developer at such address. The date […]
718.612 – Right of first refusal.
718.612 Right of first refusal.— (1) Each tenant, who for the 180 days preceding a notice of intended conversion has been a residential tenant of the existing improvements, shall have the right of first refusal to purchase the unit in which he or she resides on the date of the notice, under the following terms and conditions: […]
718.614 – Economic information to be provided.
718.614 Economic information to be provided.—The developer shall distribute to tenants having a right of first refusal, if any: (1) Information in summary form regarding mortgage financing; estimated down payment; alternative financing and down payments; monthly payments of principal, interest, and real estate taxes; and federal income tax benefits. (2) Any other information which the division publishes and […]
718.616 – Disclosure of condition of building and estimated replacement costs and notification of municipalities.
718.616 Disclosure of condition of building and estimated replacement costs and notification of municipalities.— (1) Each developer of a residential condominium created by converting existing, previously occupied improvements to such form of ownership shall prepare a report that discloses the condition of the improvements and the condition of certain components and their current estimated replacement costs as […]
718.618 – Converter reserve accounts; warranties.
718.618 Converter reserve accounts; warranties.— (1) When existing improvements are converted to ownership as a residential condominium, the developer shall establish converter reserve accounts for capital expenditures and deferred maintenance, or give warranties as provided by subsection (6), or post a surety bond as provided by subsection (7). The developer shall fund the converter reserve accounts in […]
718.62 – Prohibition of discrimination against nonpurchasing tenants.
718.62 Prohibition of discrimination against nonpurchasing tenants.—When existing improvements are converted to condominium, tenants who have not purchased a unit in the condominium being created shall, during the remaining term of the rental agreement and any extension thereof, be entitled to the same rights, privileges, and services that were enjoyed by all tenants prior to the […]
718.621 – Rulemaking authority.
718.621 Rulemaking authority.—The division is authorized to adopt rules pursuant to the Administrative Procedure Act to administer and ensure compliance with developers’ obligations with respect to condominium conversions concerning the filing and noticing of intended conversion, rental agreement extensions, rights of first refusal, and disclosure and postpurchase protections. History.—s. 8, ch. 98-195.
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 […]