Condominium Association Manager
August 23, 2024
Q. Does F.S. section 718.116 apply to a short sale as well as a foreclosure where the lender who takes title is to pay 1% or 12 months, whichever is less? I have a lender wanting the Association to take 6 months back dues – not 12 months.
A. The 12 months or 1% only applies where the lender takes title through foreclosure or deed in lieu of foreclosure and does not apply in a short sale.
At Gray Systems, we believe that learning shouldn’t end once you step out of the classroom. This blog allows Fred to share his expertise in the Community Association Management (CAM) and Contractor (CILB & ECLB) industries. It’s a place to discuss industry related trends, code changes, insight, and know-how.
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