FL H1405

Reduces the lookback period for first mortgagee liability for unpaid condominium assessments from 24 months to 12 months immediately preceding acquisition of title.

Maintains the alternative liability cap of 3% (changed from 1%) of the original mortgage debt, whichever is lesser.

Clarifies that associations acquiring title through foreclosure of their assessment lien are not liable for unpaid assessments, late fees, interest, or attorney's fees owed to other superior lien holders.

Requires the first mortgagee to have joined the association as a defendant in the foreclosure action, with exceptions if the association was dissolved or lacked a known service of process location.

Effective date: July 1, 2014.