Florida: Gov. Scott asks for change in condo termination law that allows corporate takeovers

By Kim Miller — Posted September 5, 2015

The Palm Beach Post

Florida Gov. Rick Scott has asked the Florida Department of Business and Professional Regulation Secretary Ken Lawson to come up with recommendations on changing a 2007 law that can force condominium owners to sell at market value to corporate entities.

In a Thursday letter, Scott says he wants to work with lawmakers in the 2015 session to ensure homesteaded properties are protected under condo termination rules.

“The law appears to have negatively impacted a number of families throughout the state, leading to the loss of their homesteaded property, and in many instances, resulting in the financial burden of remaining mortgage debt after the sale of their condominium,” Scott wrote.  Read more.

 

Comments are closed.