HOMEOWNERS' ASSOCIATIONS EDUCATION

SPECIAL ASSESSMENTS IN DEVELOPER-CONTROLLED HOAs

ATTENTION:

In the light of recent events and inquiries, here is an important reminder for all homeowners living in developer-controlled homeowners' associations regulated by FS 720. 

As part of Senate Bill 1196 the Florida legislature passed during the 2010 session -- effective July 1, 2010 -- this new addition to the Florida statutes regulating homeowners' association:

720.315 Passage of special assessments. Before turnover, the board of directors controlled by the developer may not levy a special assessment unless a majority of the parcel owners other than the developer have approved the special assessment by a majority vote at a duly called special meeting of the membership at which a quorum is present.

This provision PROHIBITS developers from levying special assessments without the prior vote of approval by a majority of OWNERS OTHER THAN THE DEVELOPER at a duly called special meeting of the membership at which a quorum is present.

If a special assessment is announced by a developer-controlled board, make sure they follow the rules -- see above. And if you feel that NO special assessment should be levied, make sure that you and your neighbors attend the special meeting -- and vote NO.


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