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FL H0627
Bill
Status
Failed
3/8/2024
Primary Sponsor
James Buchanan
Click for details
AI Summary
- Amends s. 720.401, F.S., to require prospective purchasers of property subject to mandatory homeowners' association membership to receive a current copy of the association governing documents, the most recent year-end financial information, and agendas and minutes from all board meetings in the 12 months preceding contract execution, in addition to the existing disclosure summary.
- Replaces the prior disclosure language stating documents could be obtained from county records or the developer with a new acknowledgment that the purchaser has actually been provided the required documents.
- Contracts are voidable if the expanded set of documents is not provided before execution; purchasers may cancel by delivering written notice within 3 business days (excluding Saturdays, Sundays, and legal holidays) after receipt of the documents or before closing, whichever comes first.
- The purchaser's right to void the contract cannot be waived and terminates at closing.
- Effective date is July 1, 2024.
Legislative Description
Disclosure Requirements for Prospective Purchasers
Last Action
Died in Regulatory Reform & Economic Development Subcommittee
3/8/2024
Committee Referrals
Regulatory Reform & Economic Development Subcommittee11/30/2023
Full Bill Text
No bill text available