Investors Force Out Fla. Condo Owners, Dissolve Associations
A seven-year-old Florida law is forcing condo owners out of their units in favor of investors who want to convert the buildings to rentals. Previously, the Florida Condominium Act required agreement from all owners in a condominium association before a “condominium pact” could be dissolved. Then, in 2007, state lawmakers lowered the requirement to 80 percent of unit owners, despite objections by prominent lawmakers, including the former governor, Jeb Bush.
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