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Can Florida condo association turn off electricity for the lack of payments of condo fees?
Wiki User
∙ 13y ago
Read your governing documents to determine which actions your association can take in order to collect assessments that you owe and do not pay.
As well, it's reasonable, for example, that if you don't pay your monthly assessments, and the association pays your electric bill from assessments that are collected, that they can deny electric service to you, since you aren't paying for it.
Wiki User
∙ 13y ago
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Can you rent out a bedroom in your 2 bedroom condo in Florida?
Only if the Condo Association allows it. It could otherwise fine you.
Can your condo association foreclose on your unit in Florida?
Yes. This is usually a last resort, but it is possible.
Have Florida legislators passed a law to force condo owners to pay their condo fees?
no but trying to If a condo owner falls more than 90 days in arrears of association, the right to use common areas can be suspended by the association until such dues are paid.
Are collier county Florida condo association insurance costs rising?
A local insurance broker can answer your question.
Can creditors charge late fees on a deceased person's estate when there is no spouse For example late condo association fees late mortgage payments etc.?
Yes.
Are there any condos for sale in Florida?
An overview of information regarding condo docs and HOA in Florida. Vacation Homes Florida for sale. A resale condo and fifteen days when buying a new condo in Florida.
Can your condo association take possession of your condo in Florida?
Read your governing documents to determine the cause of this apparent threat. Since you chose Liens as another category, you may have a lien on your title for unpaid monies that you owe to the association. As a last step in collecting monies you owe, your association can take possession of your condominium and sell it. This process is written out in your governing documents.
What happens to the first mortgage on a condo in Florida when the condominium association forecloses for unpaid association fees?
For the condo association foreclosure to be valid, the bank who holds the mortgage must be notified of the foreclosure action, and the mortgage company has the opportunity to do a couple of things: They can pay the delinquent condo fees themselves, to protect their own interests, and force the borrower to pay them back. If the borrower is unable to repay the condo fees, it could put the mortgage payments in default, and be grounds for the lender to begin foreclosure proceedings. If the borrower is behind in their mortgage payments, the bank can join in the condo association's foreclosure action themselves. This is actually a great assistance to the bank, as it saves them the time and trouble of initiating the lawsuit - they just get to piggy-back on the condo association's foreclosure, which makes the foreclosure sale happen that much sooner. And since the bank's lien has priority over the condo association, the bank would be the one to get paid off first if the property got sold to a third party at the foreclosure sale, or if nobody bid on the property, they would be the ones who would become owners of the condo. If, for whatever reason, despite getting proper notice, the bank does nothing and the condo association forecloses on the property. The first mortgage holder has a lien that always survives the condo association's foreclosure. In fact, second mortgages are usually superior to the condo association's lien for unpaid maintenance fees. Usually the condo association gets stuck with owning a property with at least one outstanding mortgage with an outstanding mortgage balance greater than the actual value of the property because of the decline in real estate value. Most condo associations allow the first mortgage holder to foreclose on the property after their foreclosure is done. The main point is that in Florida a condo association foreclosure has no effect on the first mortgage.
Can you know the status of a condo association?
Yes.You can request the status of the association from the Secretary of State where the association is located.
Is a condo association a business?
Absolutely, yes. The association may be incorporated as a profit, not for profit, or an unincorporated association.
If condo association forecloses on an owner does the lender pursue deficiency judgment against the owner or condo association?
Your attorney can help you answer this question, since it requires a legal answer.
What are the condo fees at Grand Key condos in Tampa Florida?
A local realtor can help you understand the regular and special assessments for any condominium association in your geography. There is no standard.
