Florida Condominium Law relates to the operation, development and resolution of disputes for Condominiums. Condominiums are creatures of statute. In Florida, Chapter 718 of the Florida Statutes provides the framework for all Florida Condominiums.
What are Condominiums?
Condominiums, also known as "condos," offer many of the same amenities as home ownership, except that the development is managed by an "association" that acts much like a cooperative's board of directors. Individual owners of condominium units share in ownership of common areas, such as corridors and recreation rooms indoors and courtyards outdoors. The association makes sure that the common areas are kept in good repair. There may be an on site superintendent, or there may be a maintenance crew on call. All owners must pay assessments or maintenance fees for the common areas and abide by the association rules
Condominium Sale and Ownership
Condominium sales are treated just like house sales; the buyer secures a mortgage and on the day of purchase signs an actual deed for the dwelling. That deed does not grant the same level of ownership that a deed to a house would provide. All the buyer really owns is the air space within the unit. Because the common space is jointly held by all the residents, they are restricted and often prohibited from making any changes, even beneficial ones.
Representation in Condominium Matters
The condominium procedures can at times be very complex. It is important to have an attorney involved early on in the process. Before beginning a condominium transaction, whether you are a buyer, seller, or developer, contact RICE & ROSE and let one of our experienced attorneys guide you through the process.
Below is a sample of some of the Florida Condominium matters that RICE & ROSE has settled for its clients: