CS/CS/CS/HB 319 - Residential Properties Summary

• Exempts certain elevators in condominiums and multifamily residential buildings from Phase II Firefighters' Service code requirements until July 1, 2015, or until replacement/major modification occurs.

• Revises condominium board election procedures, including staggered 2-year terms with majority approval, secret ballot requirements, and establishes a 60-day deadline for challenging election results.

• Establishes comprehensive recall procedures for board members requiring majority voting interest approval, with timelines for board certification or arbitration, and prevents recall petitions within 60 days of elections.

• Clarifies liability limitations for first mortgagees acquiring property through foreclosure, capping liability at the lesser of 12 months of unpaid assessments or 1% of original mortgage debt.

• Modifies mortgagee consent requirements for amendments to association documents, making pre-July 1, 2012 mortgages subject to full consent provisions while limiting post-July 1, 2012 mortgages to amendments materially affecting their rights.