A Short List of Florida Condo Law for Investors

Posted on: April 24, 2018
condo law investor

At the start of Q1FY18, Florida condo sales were up by 5.9% with the median price advancing by 11.7%, say real estate market experts.

With demand for condominiums on the rise in the Sunshine State, the number of legal matters related to escrow agreements, COA dues, rental disputes, and community nuisance matters has increased.

If you are a property investor, first-tine condominium buyer, or owner of a vacation rental in the South Florida area, a licensed attorney specializing in condo law can assist you in a legal dispute.

Escrow Disputes

Escrow contract negligence connected to transfer of a condo property is a tort law matter.

If a broker or escrow agent is “holding” a deposit, both the buyer and the seller may have a contract claim.

Condo buyers have the right to file a claim if a “good faith” deposit is not reconciled at time of property title transfer.

COA Dues

Florida COA condominium association Title XL Real and Personal Property, Chapter 718.121 Condominium statutes provide procedural rules to notice of owner lien laws where COA dues delinquency persists.

According to the law, delinquencies of monthly COA dues or assessments may result in lien of an owner’s property.

Distinct from Florida rules for HOA associations which allow for the filing of a claim of lien after 45 days of delinquency (Fla. Stat. Ann. § 720.3085(4)), COA claim of lien filings require only30 days after a notice of intent is served (Fla. Stat. Ann. § 718.121(4)).

Rental Disputes

Vacation condo rental provisions in Florida landlord-tenant law outline the rights of property owners and rental occupants.

Florida Chapter 83 stipulates that both parties to a condominium lease agreement have a “duty” to fulfil contract “obligation[s] of good faith performance or enforcement” (ss. 83.44). Part II Residential Tenancies (ss. 83.40-83.683) rules to procedural administration of contracts; notices; and evictions provide a guide to landlord-tenant law in Florida courts.

Nuisance

Florida condo association laws uphold the doctrine of “sic utere tuo ut alienum non laedas” – where there is a nuisance, there is harm done to another.

Condo association bylaws generally protect the interests of a residential group from nuisance on the premises where they pay COA dues.

A nuisance letter from a community association indicates the proper legal steps of forewarning a party who is alleged to be a nuisance prior to filing a complaint in court.

FL Legal Group is an attorney practice offering counsel on matters related Florida, Title XI, Chapter 718 condominium property disputes.

If you are an agent, broker, condo owner, landlord, or tenant involved in a condominium property litigation matters, FL Legal Firm can assist in the negotiation of escrow transaction agreements, COA notice or claim of liens, landlord-tenant disputes, and nuisance letters.

Contact us

Click here or call (813) 221-9500 for a free consultation in a condo law matter.

See Related Blog Post:

Changes to the Law and Requirements Concerning Preparation and Issuance of Estoppel Certificates by Florida Condo/HOA Associations

Community Association Legal Counseling 

References
Bandell, Brian, South Florida home sales down, condo sales up in January, 2018, South Florida Business Journal, https://www.bizjournals.com/southflorida/news/2018/02/21/south-florida-home-sales-down-condo-sales-up-in.html

The 2017 Florida Statutes, Title XL Real and Personal Property, Chapter 718 Condominiums, http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0718/0718.html (last visited Apr 13, 2018).

Author: FLLegalGroup
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