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  • Florida Senate Bill 56: Changes to Florida’s Condominium Association and Homeowners’ Association Collections Procedures

Florida Senate Bill 56: Changes to Florida’s Condominium Association and Homeowners’ Association Collections Procedures

On July 1, 2021, Senate Bill 56 went into effect along with Senate Bill 630. While both bills affect the laws governing Florida condominium and homeowners’ associations, Senate Bill 56, specifically, changed the collection and notification procedures for these associations. This article provides an overview of how Senate Bill 56 affected the manner in which Florida condominium and homeowners’ associations collect overdue assessments, record claims of lien, and provide notice to unit owners.   Read the entire article……………………………….

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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