Are you part of a community association? There are many condominiums and homeowners associations in Florida. While some people reside full time in the dwellings they own, others live elsewhere, perhaps out of state, some of the time. There are numerous legal problems that can surface concerning condominiums and cooperatives. The good news is that there are also resources available to help overcome them.
The manner in which a particular piece of real estate is held in Florida is an important consideration. Condominiums and cooperatives are terms that describe two different forms of real estate ownership. A condominium is typically one of multiple units in a building where the unit is owned individually, with the costs and maintenance of the common areas are shared by all the owners. A unit in a cooperative is not actually individually owned; rather, the unit purchaser gets shares in a corporation, which in turn actually owns all the uits and runs the building as a coop.
There are many types of dwelling places in Florida. People, of course, choose residences according to various factors, such as their income level, family size or perhaps, even their age. For those who live in condominiums and cooperatives, challenges may arise if residents disagree with a particular restriction management has imposed.
Stepping into a new position as president of a commercial complex with a long list of existing complaints and liens against the property would sound to most Florida residents like a very stressful job. But that's just what happened to a man who took over as president of a large condominium complex in another state. In fact, when he assumed his position, he was facing problems regarding nonpayment of water and sewage bills, broken windows and stairs, and life-safety code violations among other complaints.
Any time legal issues or disputes arise involving real estate, the entire situation can be very stressful for all involved. However, this is especially true for condominium associations in Miami, and in cities around the rest of Florida. At Cuevas, Garcia & Torres, our firm is familiar with the various types of legal hurdles that condo associations find themselves facing. Moreover, we know how pivotal it is for people in this situation to stand up for their rights.
For homeowners' associations, conflicts with developers may arise for a multitude of reasons. In Miami-Dade, these disputes can be worsened as a result of various regional factors, such as challenges in the condo market. As a result, homeowners' associations may want to stay on top of current trends in the South Florida condo market and should always try to resolve disagreements with developers smoothly. Sometimes, these disputes lead to litigation, at which point it is essential for associations to protect their interests and know their rights.
For condominium associations, all sorts of issues may arise from time to time. For example, a condo association may become entangled in a legal dispute, have difficulty enforcing documents, become involved in a standoff with a developer or have a hard time collecting funds. In Miami-Dade, and all other parts of Florida, the condominium market is constantly changing, which can also affect condo associations.
When it comes to condos, there are all sorts of considerations for owners as well as prospective buyers. From the location of a unit to association services, there are many points for people in Miami to consider regarding condos. However, it is pivotal for people to follow developments in the South Florida condo market if they plan on selling or purchasing a condo in the region. After all, waiting until the right time to buy or sell a condo can have a tremendous financial impact on those involved.
For those who operate a condominium association, various challenges may arise. For example, an association may become involved in a dispute for a myriad of reasons or struggle with the collection of association fees. In Miami-Dade, and all across the state of Florida, it is crucial for condo associations to carefully assess the details surrounding any problems they are facing. By managing an association and handling any legal issues or disputes properly, condo associations can avoid some serious consequences.
For people who are thinking about buying a condo, there are a wide variety of issues to take into consideration, such as the location of the unit and the price. When it comes to condo sales, there are many factors that can impact both the buyer as well as the seller, including recent events that have taken place in the region. In Miami-Dade, and throughout the state of Florida, those who are trying to buy or sell a condo should carefully review their options.