Recent amendments to Chapter 718, Florida Statutes, have introduced a new obligation for condominium associations to attach proposed contracts to meeting notices. The change is aimed at increasing transparency and ensuring that association members are fully informed about the decisions being made by their board of directors. And while the new requirement may sound simple […]
Tag Archives: chapter 718
Addressing Lender’s Requests for Litigation Status Updates and Financial Health
When a prospective sale of a condominium unit is underway, lenders often require detailed information about the condominium association’s litigation status and financial health. These requests are critical to lenders to assess the risk associated with lending against a property within the community. However, for the association and management, responding to those requests can be […]