June, 2010

Senate Bill 1196 has been signed by the governor and will go into effect July 1, 2010. The bill contains a wide range of changes to community association laws. This reform bill has many very positive changes for community associations but unfortunately does not provide the desired assistance to delinquency/foreclosure problems. Although the number of past due assessment months a foreclosing bank or mortgage company must pay to a condominium association upon taking title was raised to twelve months, the alternative 1% of the original mortgage remained the same. Since in most foreclosures the 1% was already less than the six months assessments, the increase to twelve months will only help in a very few number of cases. By Statute the mortgage holder only pays the association the lower of the 1% or twelve months. Homeowner associations were already at 12 months.

Attorney Donna Burger was one of those who worked hard to secure passage of SB 1196 and she did a very good job watching out for community association interests. Her Fort Lauderdale law firm prepared an excellent review of Senate Bill 1196. You may see it by clicking here: Guidebook to Senate Bill 1196

August, 2010
March, 2010

Bradenton

4301 32nd Street West
Suite A-20
Bradenton, Florida 34205
Phone: (941) 758-9454
Fax: (941) 753-3062

Sarasota

4672 Fruitville Road
Sarasota, Florida 34232
Phone: (941) 377-3419
Fax: (941) 377-6218

Saint Petersburg

111 2nd Avenue North-East
Suite 900
Saint Petersburg, Florida 33701
Phone: (727) 456-0027
Fax: (866) 890-0548

Venice

871 Venetia Bay Boulevard
Suite 230
Venice, Florida 34285
Phone: (941) 786-3552
Fax: (866) 890-0548
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