FL H7031

Defines "mandatory property owners' association" as a Florida corporation where membership is mandatory for property ownership and which can impose assessments that may become property liens, excluding community development districts.

Adds homeowners' association and mandatory property owners' association covenants and restrictions as exceptions to marketable record titles if recorded in public records, with exceptions for covenants extinguished before July 1, 2016, those with expiration terms, administratively dissolved associations, and those found abandoned by circuit court.

Authorizes mandatory property owners' associations to file notices to preserve covenants and restrictions from extinguishment, requiring approval by at least two-thirds of the board of directors at a meeting with proper notice to members.

Allows homeowners' associations and mandatory property owners' associations not subject to chapter 720 to revive lapsed covenants and restrictions using procedures in sections 720.403-720.407.

Effective date: July 1, 2016.