Not So Fast, Additional Clarity for Condo Termination Provisions
As legislative and market forces converge to make condominium termination an attractive alternative to reserve funding requirements, additional clarity concerning the interpretation of condominium termination provisions is essential.
April 23, 2024 at 09:09 AM
4 minute read
Board of ContributorsThe South Florida skyline is aging, and since the tragic collapse of Champlain Towers South, the state Legislature has rightfully prioritized reform of Florida statutes governing condominiums. Two-thirds of all condominiums in Florida are more than 30 years old, and may be reaching the end of their useful lives, particularly in harsh coastal areas. As now-mandatory structural integrity reserve studies are completed and previously waived reserves for capital expenses and deferred maintenance are required and assessed, condominium termination will become an increasingly attractive solution to owners in aging condominiums, with the added benefit of promoting new, more resilient development. To leverage the benefits of this unique environment, clarity concerning the circumstances in which amendments to Florida's Condominium Act will apply to free condominium owners of strict termination provisions in their governing documents is essential. As the recent Biscayne 21 decision from the Third District Court of Appeal confirms, if the Legislature fails to comprehensively address the issue, courts will do so on a case-by-case basis.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllNavigating Claims Under the Florida Telephone Solicitation Act and Florida Telemarketing Act
4 minute readSecond Circuit Ruling Expands VPPA Scope: What Organizations Need to Know
6 minute readTrending Stories
- 1Legaltech Rundown: LexisNexis Releases Lexis+ AI Mobile App, Hotshot Launches New M&A Training Simulation, and More
- 2Perkins Coie Boasts Diverse Partner Class
- 3NY Judge Indefinitely Delays Sentencing in Trump Hush Money Case
- 4US Supreme Court Tries to Define a 'Crime of Violence'
- 5How I Made Practice Group Chair: 'Think About Why You Want the Role, Because It Is Not an Easy Job,' Says Aaron Rubin of Morrison Foerster
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250