Senate Bill sb0348

    Florida Senate - 2007                                   SB 348

    By Senator Dawson





    29-325A-07

  1                      A bill to be entitled

  2         An act relating to condominium and homeowners'

  3         associations; prohibiting such associations

  4         from requiring a prospective purchaser of

  5         certain properties to make a monetary deposit

  6         or show evidence of financial status; providing

  7         an effective date.

  8  

  9  Be It Enacted by the Legislature of the State of Florida:

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11         Section 1.  Notwithstanding any agreement or other

12  document to the contrary, a condominium or homeowners'

13  association may not require a prospective buyer of a property

14  represented by the association to make a monetary deposit or

15  present evidence of any financial status to the association if

16  such prospective buyer has been approved by a lending

17  institution to obtain the financing that is necessary to

18  purchase the property.

19         Section 2.  This act shall take effect July 1, 2007.

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22                          SENATE SUMMARY

23    Prohibits a condominium or homeowners' association from
      establishing monetary deposit requirements for
24    prospective purchasers of properties governed by such
      association.
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CODING: Words stricken are deletions; words underlined are additions.