FL Statute 718 and FL Statute 720

In this post, "FL Statute 718 and FL Statute 720", we are going to discuss two of the most important statutes in the state of Florida as it pertains to the governance of condominiums and homeowners associations. The purpose of this post is to condense the two statutes in a way that is digestible to Florida residents in a few minutes without offering legal advice in any way. We will begin this post with FL Statute 718 and end this post with FL Statute 720. Legal disclaimer can be found at the bottom of this page.

FL Statute 718

Florida Statute 718 pertains to condominiums in the state of Florida. Here's an overview of its main provisions:

• Creation and Operation: Florida Statute 718 outlines the creation, governance, and operation of condominiums in the state. It covers the establishment of condominium associations, their powers, and their duties.

• Ownership and Common Elements: The statute defines the rights and responsibilities of condominium owners, including their ownership interests in individual units and their shared ownership of common elements within the condominium property.

• Association Governance: It details the structure and governance of condominium associations, including the election and removal of board members, board meetings, and voting procedures.

• Financial Matters: Florida Statute 718 addresses financial matters related to condominium associations, including budgeting, assessments, reserves, and financial reporting requirements.

• Maintenance and Repairs: The statute outlines the responsibilities of condominium associations for the maintenance, repair, and replacement of common elements and provides procedures for handling maintenance issues and disputes.

• Insurance: It addresses insurance requirements for condominium associations, including property insurance, liability insurance, and requirements for unit owners to carry insurance for their individual units.

• Meetings and Records: Florida Statute 718 establishes requirements for association meetings, including notice requirements and access to association records by unit owners.

• Enforcement and Dispute Resolution: It provides mechanisms for enforcing association rules and resolving disputes between unit owners and the association, including procedures for resolving disputes through arbitration or mediation.

• Amendments and Governing Documents: The statute outlines procedures for amending the condominium association's governing documents, including the declaration of condominium and bylaws.

• Conversion Condominiums: Specific provisions are included in the statute regarding the conversion of existing properties into condominiums.

FL Statute 720

Florida Statute 720 pertains to homeowners' associations (HOAs) in the state of Florida. Here's a breakdown of what it entails:

• Purpose: The statute outlines the purpose of homeowners' associations, which is primarily to provide for the maintenance, preservation, and architectural control of common areas and the overall community.

• Creation and Operation: It details the creation and operation of homeowners' associations, including how they are established, governed, and managed.

• Powers and Duties: The statute delineates the powers and duties of homeowners' associations, including the authority to adopt and enforce rules and regulations, maintain common areas, levy assessments, and enforce covenants and restrictions.

• Membership: It outlines the rights and responsibilities of association members, including voting rights, access to records, and obligations to pay assessments.

• Meetings and Elections: Florida Statute 720 also addresses the requirements for association meetings and elections, including notice requirements, voting procedures, and the establishment of quorums.

• Enforcement and Dispute Resolution: It provides mechanisms for enforcing association rules and resolving disputes between members and the association.

• Amendments and Governing Documents: The statute outlines the procedures for amending the association's governing documents, such as the declaration of covenants, conditions, and restrictions (CC&R) and bylaws.

• Assessments and Liens: It addresses the collection of assessments, the creation of liens for unpaid assessments, and the association's authority to pursue legal action to collect delinquent payments.

Summary

FL Statute 718 serves as a comprehensive legal framework for the establishment, operation, and governance of condominiums in Florida, and FL Statute 720 serves as a comprehensive legal framework for the establishment, operation, and governance of homeowners' associations in Florida. FL Statute 718 aims to protect the rights of unit owners, ensure the proper management of condominium properties, and promote the overall well-being of condominium communities. FL Statute 720 aims to ensure the orderly management and maintenance of residential communities while safeguarding the rights of homeowners and the interests of the homeowners association.

HOA joke of the day: Florida HOA laws, folks. It's like playing Monopoly with your retirement savings. You roll the dice, land on Park Place, and suddenly you owe dues for the rest of your life. But instead of a friendly banker, you've got a random neighbor from down the street knocking on your door, demanding to know why your garden gnome is two inches taller than regulation.

Thank you for reading this post. We hope you found it informative and interesting.

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Published 4/2/24

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