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Re: Advice about cheap rentals....

Posted: Tue Sep 23, 2014 12:06 pm
by bjrichus
Nidrah wrote:I saw this on CBS this morning, yesterday. We have been thinking of buying a small condo (not to rent). This kind of bothered me when I saw this. Has anyone in Navarre experienced this?

http://www.cbsnews.com/news/condo-termi ... wners-out/
I saw that too.

Not experienced that myself but it is "only" a recent law and is up for a change anyway, so unless something happens to the development itself that you are interested in, I doubt that it's much of an issue ... I hope!

Re: Advice about cheap rentals....

Posted: Tue Sep 23, 2014 12:51 pm
by AngelGirl
Hmmm - This sounds like a case of "unintended consequences" coming home to roost, doesn't it?!?!


http://www.floridabar.org/DIVCOM/JN/JNJ ... enDocument

Re: Advice about cheap rentals....

Posted: Tue Sep 23, 2014 2:08 pm
by bjrichus
AngelGirl wrote:Hmmm - This sounds like a case of "unintended consequences" coming home to roost, doesn't it?!?!

http://www.floridabar.org/DIVCOM/JN/JNJ ... enDocument
Yes it does.... With luck, it should be dealt with next year.

"As reports of the application of the termination statute are being received, the statute is being reevaluated with an eye to further amend it. In the interim, practitioners are urged, as always, when addressing a new statutory procedure, to beware of unintended consequences. As the goal of termination is usually the ultimate sale of the real property, practitioners should consider consulting a title underwriter and obtaining a title commitment to help ensure that the resulting title is insurable."

Title Insurance... In case anyone should think insurance is a waste of time...