Florida Statutes Part VII - Distressed Condominium Relief (Ss. 718.701-718.708)

• 718.701 - Short Title.
  This part may be cited as the “Distressed Condominium Relief Act.”History.—s. 18, ch. 2010-174.
• 718.702 - Legislative Intent.
  (1) The Legislature acknowledges the massive downturn in the condominium market which has occurred throughout the state and the impact of such downturn on developers, lenders,...
• 718.703 - Definitions.
  As used in this part, the term:(1) “Bulk assignee” means a person who is not a bulk buyer and who:(a) Acquires more than seven condominium parcels in...
• 718.704 - Assignment And Assumption Of Developer Rights By Bulk Assignee; Bulk Buyer.
  (1) A bulk assignee is deemed to have assumed and is liable for all duties and responsibilities of the developer under the declaration and this chapter...
• 718.705 - Board Of Administration; Transfer Of Control.
  (1) If, at the time the bulk assignee acquires title to the units and receives an assignment of developer rights, the developer has not relinquished control...
• 718.706 - Specific Provisions Pertaining To Offering Of Units By A Bulk Assignee Or Bulk Buyer.
  (1) Before offering more than seven units in a single condominium for sale or for lease for a term exceeding 5 years, a bulk assignee or...
• 718.707 - Time Limitation For Classification As Bulk Assignee Or Bulk Buyer.
  A person acquiring condominium parcels may not be classified as a bulk assignee or bulk buyer unless the condominium parcels were acquired on or after...
• 718.708 - Liability Of Developers And Others.
  An assignment of developer rights to a bulk assignee or bulk buyer does not release the original developer from liabilities under the declaration or this...

Last modified: September 23, 2016