The ability to collect assessments from unit owners on a timely basis is a key component to the financial health and stability of a community association. An association’s governing documents, as well as the applicable community association statutes (i.e., Chapter 718 for Condominiums, Chapter 720 for HOAs and Chapter 719 for Co-Ops) provide several enforcement...Read More
TOP REAL ESTATE LEGAL ISSUES: WHAT’S TRENDING NOW Quadomain Redux Associations Can Bring Own Lawsuit to Collect Florida’s Fourth District Court recently decided a case that is important to community associations throughout Florida. As a result associations can now bring their own lawsuit to collect past due assessments, even where a first mortgage holder previously...Read More
TOP REAL ESTATE LEGAL ISSUES: WHAT’S TRENDING NOW Zombies are fictional “undead” beings created from the reanimation of a human corpse popular in movies and on television. Unfortunately, many community associations are now finding themselves dealing with “Zombie Homes.” A “Zombie Home” is created by a lender which begins but does not complete a foreclosure...Read More
TOP REAL ESTATE LEGAL ISSUES: WHAT’S TRENDING NOW With many former delinquent unit owners foreclosed out and replaced by paying owners, community associations are generally doing better financially than several years ago. It is critical, however, to maintain a sound collections strategy. This means monitoring payments by unit owners and putting any new delinquencies into...Read More
HOLLYWOOD, FLA. – (December 7, 2015) – Serving on the board of directors of a community association, whether it is a condominium or homeowners association, entails specific responsibilities for directing management of the property and adhering to all applicable laws, rules, covenants and policies. As the end of the year approaches, the time is right...Read More
Despite the rebound of the real estate market and the slowdown in the filing of new foreclosure cases, community associations across Florida continue to face problems with collections. Delinquent payments and the resulting foreclosures are likely to remain an issue for the foreseeable future. According to RealtyTrac’s Q1 and March 2015 U.S. Foreclosure Market...Read More
