A new Florida condo bill was signed by Governor Crist on June 1, 2010. There are a few points addressed in the bill that all condo owners and future owners should know. SB 1196 highlights are listed below:
- Lenders will be required to pay more past-due assessments for foreclosed condonimiums.
- Associations will be allowed to deny owners and occupants use of recreational facilities and common areas if the owner of the condo is 90 days delinquent in his/her obligations to pay the association dues.
- Associations will be able to use rent paid by a tenant to pay delinquent assessments owed by the unit's owner.
- Remove the requirement that condominium owners must purchase individual condo insurance coverage.
- SB 1196 will