FL S0120

Allows condominium units to come into existence upon recording a declaration regardless of completion status or other requirements in the declaration.

Extends the timeline for clerk notification of unclaimed funds from 3 years to 5 years after declaration recording.

Changes the 3-year statute of limitations for challenging condominium formation validity to run from the recording of a surveyor's certificate or transfer of unit title (whichever occurs first), rather than from declaration recording.

Redefines periods for developer control and unit owner voting rights in associations by reference to surveyor certificate recording or unit title transfer dates instead of declaration recording dates.

Allows unit owners to vote to extend the 7-year deadline for completing phase condominiums up to a maximum of 10 years, with amendments required only during the final 3 years of the initial period.