SB 1270

Relating to Advisory Council on Condominiums

S1270    GENERAL BILL by Senator Margolis
Advisory Council on Condominiums; requires that council review certain
provisions re protections for purchasers of condominium conversions;
requires report to Legislature. EFFECTIVE DATE: Upon becoming law.
01/06/06 SENATE Filed

01/31/06 SENATE Referred to Regulated Industries; Judiciary
02/07/06 SENATE On Committee agenda-- Regulated Industries, 

                 02/14/06, 2:00 pm, 110-S


CODING: Words stricken are deletions; words underlined are additions. 

35-859A-06 

  1 A bill to be entitled 

  2 An act relating to the Advisory Council on 

  3 Condominiums; requiring that council review 

  4 certain provisions related to protections for 

  5 purchasers of condominium conversions; 

  6 requiring a report to the Legislature;

  7 providing an effective date. 

  8 

  9 Be It Enacted by the Legislature of the State of Florida:

10 

11 Section 1. (1) The Advisory Council on Condominiums, 

12 created by s. 718.50151, Florida Statutes, shall review part 

13 VI of chapter 718, Florida Statutes, concerning condominium 

14 conversions, and shall submit a report to the Legislature by 

15 November 30, 2006, which evaluates whether such provisions 

16 provide adequate postpurchase protection for purchasers of 

17 condominium conversion properties and recommends any proposed 

18 legislation needed to improve the protection provided by part 

19 VI of chapter 718, Florida Statutes. 

20 (2) The report must examine the existing provisions, 

21 particularly ss. 718.616 and 718.618, Florida Statutes, as 

22 they relate to the following issues: 

23 (a) Whether the disclosures required by s. 718.616, 

24 Florida Statutes, provide adequate information to the 

25 purchaser; whether more specific guidelines regarding the 

26 contents of such reports should be established; and whether 

27 the creation of privity or potential liability between persons

28 who certify such disclosure reports and the unit owners should

29 be addressed; and

30 (b) Whether the provisions of s. 718.618, Florida 

31 Statutes, which require developers to fund reserve accounts or 

Page 1 

  1 alternatives to such accounts, are adequate or should be

  2 modified. 

  3 Section 2. This act shall take effect upon becoming a 4 law. 

  5 

  6 ***************************************** 

  7 SENATE SUMMARY 

  8 Requires the Advisory Council on Condominiums to review certain

     statutes related to  protections for purchasers of 

  9 condominium conversions and submit a report to the Legislature. 

10 

CODING: Words stricken are deletions; words underlined are additions.