Steven Carlyle Cronig, left, and Morgan E. Metzger, right, of Hinshaw & Culbertson. Courtesy photos. Borrowing Money to Comply With Amendments to Fla. Condominium Statute?: What to Know
The new laws impose new obligations and liability upon condominium associations regarding structural inspections of their condominiums, disclosure of the results of those structural inspections and the obligation to collect reserves to pay for maintenance and repairs of the structural components of the condominiums.
October 26, 2022 at 10:38 AM
6 minute read
Board of Contributors
In a late special session, the Florida Legislature passed and the governor signed House Bill 5D that enacted significant changes to the Florida Condominium Act and several other sections of the laws of Florida. These amendments were enacted in response to the 2021 Champlain Towers disaster in which the condominium's structure collapsed and 98 people died. The new laws impose new obligations and liability upon condominium associations regarding structural inspections of their condominiums, disclosure of the results of those structural inspections and the obligation to collect reserves to pay for maintenance and repairs of the structural components of the condominiums.
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