United Financial Counselors
A 501(c)3 Not For Profit Organization
www.UnitedCounselors.org
A 501(c)3 Not For Profit Organization
There are so many elements of this bill that will be picked apart, but let’s start with the fact that, according to the explicit definitions of this new law, a condominium or homeowner’s association cannot state a cause of action (or simply cannot foreclose).
For all those lobbyists that didn’t bother to actually read this bill, let me draw your attention to line 90:
702.015 Elements of complaint;2) A complaint that seeks to foreclose a mortgage or other lien on residential real property, including individual units of condominiums and cooperatives…MUST:(a) Contain affirmative allegations expressly made by the plaintiff at the time the proceeding is commenced that the plaintiff is the holder of the original note secured by the mortgage; or
(b) Allege with specificity the factual basis by which the plaintiff is a person entitled to enforce the note under s. 107 673.3011.
Now, experienced practitioners out there will recognize two things. First, this new section of statute applies to “other liens” on property, not just mortgages….and condo/hoa liens are “other liens” and next…..
A CONDO OR HOA CANNOT COMPLY WITH EITHER OF THE A OR B “MUST” SECTIONS!
