SB 348 -- HB 671
Relating to Condo & Homeowners' Associations |
S348 GENERAL BILL by Senator Mandy Dawson
(HB 671 -- Representative Charles Chestnut)
EFFECTIVE DATE: 07/01/2007. By Senator Dawson 29-325A-07
1 A bill to be entitled 2 An act relating to condominium and homeowners' 3 associations; prohibiting such associations 4 from requiring a prospective purchaser of 5 certain properties to make a monetary deposit 6 or show evidence of financial status; providing 7 an effective date. 8 9 Be It Enacted by the Legislature of the State of Florida 10 11 Section 1. Notwithstanding any agreement or other 12 document to the contrary, a condominium or homeowners' 13 association may not require a prospective buyer of a property 14 represented by the association to make a monetary deposit or 15 present evidence of any financial status to the association if 16 such prospective buyer has been approved by a lending 17 institution to obtain the financing that is necessary to 18 purchase the property. 19 Section 2. This act shall take effect July 1, 2007. 20 21 ***************************************** 22 SENATE SUMMARY 23 Prohibits a condominium or homeowners' association from establishing monetary deposit requirements for 24 prospective purchasers of properties governed by such association. 25 26 27 28 29 30 31 Page 1 CODING:
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