718.111(3) (HB 1237): Conflict of Interest

 

This update applies to Condominium Associations

 

 

Florida Law now prohibits a Board Member, manager, or management company from purchasing a unit at a foreclosure sale resulting from the Association’s foreclosure of its lien for unpaid assessments.

 

            Under prior law, Board Members were required to disclose their intent to bid on Association foreclosed property.  However, this new statute completely prohibits such purchases and further extends the conflict of interest to management.  In addition, law firms are now prohibited from representing both the Association and the management company.

 

For additional information regarding 718.111(3)

 and all other changes to

Florida Legislation, Larsen has you covered!

 

Our 2017 Legislative Update Booklet has everything you need to know.

Contact us for a free copy!

Contact Us: (407) 841-6555

Collections@larsenandassociates.com

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YOUR USE OF THIS WEB SITE OR ITS FACILITIES CONSTITUTES YOUR ACCEPTANCE OF THE TERMS OF USE AND PRIVACY POLICY. 

NOTE: PURSUANT TO THE FAIR DEBT COLLECTION PRACTICES ACT YOU ARE ADVISED THAT THIS LAW FIRM IS DEEMED TO BE A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.

 

YOUR USE OF THIS WEB SITE OR ITS FACILITIES CONSTITUTES YOUR ACCEPTANCE OF THE TERMS OF USE AND PRIVACY POLICY