FL H0927

Applies to residential mobile home cooperatives with more than 1,100 units located in Lake County, Florida

Authorizes mobile home cooperative associations to assess a capital contribution fee (transfer fee) on purchasers or transferees of cooperative units, with a majority vote required for fees up to $500 and a two-thirds vote required for fees between $500 and $1,000

Prohibits use of capital contribution fees for operational expenses

Requires closing documents for cooperative unit transactions to include the capital contribution assessment as a line item

Exempts current members who transfer their cooperative unit into their own revocable living trust, but applies the fee to transfers to other trust or estate planning beneficiaries