Question: We have a unit in our condominium that will soon go to a mortgage foreclosure auction. This unit owes the association tens of thousands of dollars in unpaid assessments. What is the maximum amount we can recover from the purchaser at the foreclosure sale, as I have been given conflicting advice? S.S. (via e-mail)… Continue Reading
Court explains “safe harbor” and says: “individualized charges, such as interest, late fees, collection costs and attorney’s fees do not fit within the statutory or common sense understanding of “regular periodic assessments” A little more than a year ago there was a huge debate over the interpretation of the “safe harbor” language in §718.116, Florida… Continue Reading
Question: Our manager informed the board of directors of our condominium association that forming an “LLC” entity to hold title to foreclosed units in our condominium is now being recommended. The manager stated that he has been told that by doing this, banks will have to pay the association more money when they foreclose. How… Continue Reading
HOAs are being sued in federal court for charging more fees, costs and assessments than permitted by law.
Fannie Mae announced that it requires servicers to ensure any priority liens for delinquent Condo & HOA assessments are cleared immediately, but no later than 30 days, after the foreclosure sale or acceptance of a deed-in-lieu of foreclosure.
Yeline Goin, CALL Executive Director, announced that there was a lot of movement last week with the various Bills CALL is tracking this Legislative Session. HB 319/SB 680, Relating to Residential Properties The main community association bills, HB 319/SB 680, were both approved in committee this week. SB 680 was approved in the Senate Judiciary Committee. HB 319,… Continue Reading
Information disseminated about HB 319 is in some instances false and in others, completely misleading. This post explains the history of the Safe Harbor and the legal issues involved.
HB 319 is the primary condominium bill this session. It is neither anti-association nor pro-bank as some of its critics have said. In fact, it is one of the most pro-association bills we have seen in recent years.