New Condo Governance Form Effective January 1, 2009...
The list of documents that a condominium owner must provide upon request is expanded effective January 1, 2009 to include copy of a new governance form. Developed by the Division of Florida Condominiums, Timeshares and Mobile Homes the form summarizes governance of condominium associations.
Under the Condominium Act, non-developer sellers must provide, at the seller's expense, a current copy of the Declaration, Articles of Incorporation of the Association, By-Laws and Rules of the association, financial information and a document titled "Frequently Asked Questions and Answers" if requested by a buyer. The buyer has three business days after receipt of the documents within which to terminate contract with the seller.
The governance form will address legal requirements by governing bodies of condominiums ranging from the role of the condominium board in conducting day- to-day affairs, voting rights of owners, and rights and obligations of the condominium board to enforce its own rules.
If you are in the market for a new condo, then please make sure your Agent provides you with this information. Another item we encourage all RE/MAX ELITE Agents to obtain is a copy of the last 6 months of meeting minutes. Although this is not required, it provides useful information to a Buyer.
We make it our goal to be sure every stone has been unturned when representing our Clients. We take pride in our efforts in helping you make an educated decision when purchasing your next condo. Please feel free to call us anytime at (321) 752-5858 if we can be of service.
Posted at 01:16PM Dec 29, 2008 by RE/MAX ELITE in Real Estate | Comments[0]
