"Bulk Condo Buyer" extension signed by Governor

04/10/2012 11:55 AM | Anonymous

HB 517 Chapter 2012-61, Laws of Florida

In an effort to revitalize the Condominium market, in 2010 the Legislature passed the Distressed Condominium Relief Act.  This act relieved bulk buyers and bulk assignees (generally purchasers of seven or more units, with or without an assignment of developer rights), from certain liabilities and obligations as a successor developer.  The original Act was scheduled for automatic repeal on July 1, 2012.  HB 517 including language extended the Act until July 1, 2015.   

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