Condominium Building Safety and Reserve Requirements (FL) | Practical Law

Condominium Building Safety and Reserve Requirements (FL) | Practical Law

A Practice Note discussing new condominium building safety and reserve requirements in Florida implemented in response to the tragic collapse of the Champlain Towers South condominium in Surfside, Florida. This Note examines applicable statutes regarding new inspection requirements, additional reports, and specific sales disclosures. It also highlights the statutes that prohibit most residential condominiums associations from waiving or reducing full reserve funding for future structural capital expenditures and deferred maintenance.

Condominium Building Safety and Reserve Requirements (FL)

Practical Law Practice Note w-040-7317 (Approx. 19 pages)

Condominium Building Safety and Reserve Requirements (FL)

by Practical Law Real Estate
MaintainedFlorida
A Practice Note discussing new condominium building safety and reserve requirements in Florida implemented in response to the tragic collapse of the Champlain Towers South condominium in Surfside, Florida. This Note examines applicable statutes regarding new inspection requirements, additional reports, and specific sales disclosures. It also highlights the statutes that prohibit most residential condominiums associations from waiving or reducing full reserve funding for future structural capital expenditures and deferred maintenance.