Condo Owners At Risk of Forced Sales

September 9th, 2014 Categories: Real Estate Chatter

If you’re a condo owner in the state of Florida, a law change that happened in 2007 could allow you to end up homeless.

The law is not very well known. I’m a real estate broker and I wasn’t even aware of this until I read about it this morning. And because of the negative impact it can have on condo owners, I felt compelled to write about it.

Apparently, prior to the change, in order to dissolve a condominium association you needed 100% vote. That meant that every single unit owner had to agree to the dissolution.

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