Florida Law Florida Condominium Foreclosure Essay

It must be executed and acknowledged by an officer or authorized agent of the association. No such lien shall be effective longer than 1 year after the claim of lien was recorded unless, within that time, an action to enforce the lien is commenced

Issues:

What rights do Condominium Associations have against unit owners and against non-owner lenders foreclosing against unit owners.

Decision:

Condominium Associations have statutory fee to foreclose against unit owners for non-payment of fees and assessments, but foreclosing lenders are not liable for same until they officially take title to unit.

Reasoning:

The Tadmore case makes it clear that first mortgage holders have substantial protection by statute. However, associations still have the right to pursue owners for assessments and to file and foreclose their own liens. Associations choosing to wait for bank foreclosure may be exacerbating the problem of unpaid assessments rather than solving it. (Morris)

Consequences: The Tadmore court confirms the Associations' rights to foreclose under Florida Statute 718.116 for non-payment of fees by unit-owners.While the foreclosure system has ground matters to a screeching halt and raised numerous previously unforeseeable ancillary issues, the courts are consistently confirming the associations powers under Florida Statute 718.116 to file liens and foreclose on them against unit owners who fail to pay their fees and assessments.

Conclusion

The language of Florida Statute 718.116 and the recent case ruling's in Florida make it clear that in Florida, a condominium owner failing to pay either maintenance or assessment fees, may be subject to lien and/or foreclosure due to the nonpayment.

Works Cited

Florida Statute 718 (Fla. Stat. 2008)

Deutsche Bank National Trust v. Coral Key Condominium Association

(at Carolina), Inc. And Luna No. 4D09-3392 (4th DCA 2010)

Opinion Issued April 14, 2010.

U.S. Bank National Association as Trustee for the Benefit of Harborview

2005-10 Trust Fund v. Tadmore, 2009 WL 4281301, 34 FLW D2505

(Fla. 3rd DCA 2009).

Morris, William. "It's The Law: Mortgage Holder Can

Escape Payment Of Assessments.".....