Today’s Fort Myers News-Press has an article about a new bill proposed by state Representative Gary Aubuchon. The proposed bill will further regulate what steps owners must take to pursue claims for construction defects. Florida already has …
The Short-Pay Solution
There are several programs available to homeowners that will avoid the loss of their homes through foreclosure such as repayment plans, forbearance plans and loan modifications.
Recent Court Rulings Favor Condo Buyers Over Developers
Is the economy influencing the Courts? It seems that the trend has shifted from rulings in favor of condominium developers to rulings in favor of purchasers and more lawsuits on the behalf of buyers are being filed in Courts throughout …
What Happens when the Hot Water Heater Bursts?
This is a question I am asked seemingly on a daily basis. It has some variations in format; perhaps involving a burst pipe, toilet/shower leak, or air-conditioner drip pan overflow but the theme is always the same. That is, something …
Indemnity and the Association, Part 2
Last week I wrote about Indemnification. Specifically about hiring contractors and ensuring that contract clauses were properly worded so that the Association was being indemnified and not providing the indemnity. At the end, I concluded by noting that indemnification in …
Indemnity and the Association
Indemnification. A scary word and a confusing subject. However, almost all contracts for services contain requirements for one party to indemnify the other from damages. Often these clauses are in small type of allegedly “standard form” agreements. For purposes of …
Differences in Insurance Requirements for Condominiums vs. Cooperatives in Florida
Much has been written about the insurance requirements for condominium associations and condominium owners. The Florida Condominium Act has been amended significantly over the years in this regard. Major changes resulted from the 2003 legislative session, by …
Fannie Mae Tightens Lending Standards for Florida – Project Eligibility Review Required
Fannie Mae recently announced several changes to its standards and reintroduced its Project Eligibility Review Service (PERS). Read PDF. PERS review is required for new and newly converted condominiums in Florida, while optional in projects located elsewhere …
Attorney-Client Privilege When Board Members Sue the Association
Protecting the Association’s interests when members of the Board are involved in a suit can get complicated. Creating a committee for the purpose of handling the matter may be the best solution.
Board Talking About Switching Over to “Pooled” Reserves
Question: Our board of directors has been talking about switching over to “pooled” reserves. Can you explain what this means?
L.A. (via e-mail) Answer: The concept of funding condominium reserves …