Condominium associations are commonplace in Florida. These associations can offer residents the comfort of community amenities and take care of many landscaping needs … for a price. Condominium association fees range depending on the community. Lawmakers have passed laws to help guide these associations and better ensure residents are protected from the potential for unscrupulous condo associations.
One example: transfer fees.
Homestead laws can provide benefits to homeowners. State lawmakers initially passed such laws to encourage home ownership. These laws continue to offer benefits to homeowners in Florida.
The legal community holds attorneys to a high ethical standard. The local bar association often sees over those who practice within the state and, in some cases, a complaint may head to court. In Florida, the Florida Bar recently announced the Florida Supreme Court disciplined 12 attorneys for their unethical behavior regarding the handling of cases, including some foreclosure matters, in the state.
Buying a waterfront home in Fort Lauderdale is an exciting venture. Whether you decide on an Intercoastal Waterway estate or oceanfront condo, the tranquility of waterfront living can make a dream turn into reality. Even if this is your second or third home, investing in real estate isn’t for the faint at heart. It requires research and careful decision making.
There are a variety of factors to consider when buying a property on Florida’s southeastern coast. Namely, how resilient your home will be during hurricane conditions. You can take steps to safeguard your home from severe weather.
A homeowner’s association (HOA) expects its board members to enforce the association’s governing documents. In some cases, a board member may fail to follow the rules or otherwise act inappropriately within their role.
When this happens, the following options may be available to reinstate order within the HOA board:
Florida is known for its sunshine and beautiful weather. Unfortunately, part of Florida’s weather can also include devastating hurricanes. The damage caused by these storms can be severe and seriously damage structures in its path. To absorb those costs, condominium associations generally reserve funds through annual payments from condo owners. The board can then use these funds to cover the costs that result from the damage done by a hurricane or other severe weather.
State law requires condo boards to determine a reasonable fee to build these reserve funds. Boards should generally use “business judgment” to build these funds.
It may seem like a dream view. Look out your window and you see lush, green grass. The best part? You do not need to take care of that grass. Owning a property near a golf course can come with pros and cons. One of the most obvious benefits, as mentioned above, is the ability to enjoy the scenery that comes with a golf course. Property owners are now experiencing the biggest potential con: a defunct golf course.
A condominium can offer the perfect balance of comfort and privacy. Condominiums often have units with any number of amenities, which can include tennis courts, pools and access to golf. Those who own a condominium generally do not need to worry about the upkeep of the landscaping or the other amenities noted above.
Although often a great fit, condominium ownership is not for everyone. It is important to have a basic understanding of the laws that can impact condo ownership before purchasing a unit. Three examples include:
A property line dispute can range from the minorly annoying tree branch that does not get trimmed and crosses into your yard to the extremely complex issues that were recently discussed in a case out of Florida. The case involved a property that originally consisted of a triple lot. The original owner took out mortgages from different banks. One lot consisted of the back-yard area and was essentially undeveloped except for a portion of a garage and swimming pool. The others contained the residence along with the rest of the garage and pool.
It all began in 2012 when a hotel owner needed an investor to sign on as a guarantor to a loan. The investor alleged the property owner transferred 50.5% of the property to the plaintiff in exchange for their support with the loan. The hotel owner then used the $6.5 million loan to purchase and fund renovations to the property.
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LOCATION
Law Office of Kimberly A. Abrams & Associates, P.A.
2699 Stirling Road, Suite A105
Fort Lauderdale,
FL
33312
Phone:
(954) 985-9715
Fax:
(954) 985-9745
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