The Distressed Condominium Relief Act got a new lease on life when, on April 6, Gov.Rick Scott signed an extension of the act to July 1, 2015.
The act was adopted in 2010 as a way to encourage absorption of the considerable inventory of unsold condominium units arising from the collapse of the housing market. Absorption was to be facilitated by offering bulk purchasers of unsold condominium units a shield against potential developer liability.
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