Florida Senate - 2014                                    SB 1458
       
       
        
       By Senator Abruzzo
       
       
       
       
       
       25-01260-14                                           20141458__
    1                        A bill to be entitled                      
    2         An act relating to condominium assessments; amending
    3         s. 718.116, F.S.; revising the limitations of
    4         liability for assessments; providing an effective
    5         date.
    6          
    7  Be It Enacted by the Legislature of the State of Florida:
    8  
    9         Section 1. Paragraph (b) of subsection (1) of section
   10  718.116, Florida Statutes, is amended to read:
   11         718.116 Assessments; liability; lien and priority;
   12  interest; collection.—
   13         (1)
   14         (b)1. The liability of a first mortgagee or its successor
   15  or assignees who acquire title to a unit by foreclosure or by
   16  deed in lieu of foreclosure for the unpaid assessments that
   17  became due before the mortgagee’s acquisition of title is
   18  limited to the lesser of:
   19         a. The unit’s unpaid common expenses and regular periodic
   20  assessments which accrued or came due during the 24 12 months
   21  immediately preceding the acquisition of title and for which
   22  payment in full has not been received by the association; or
   23         b. Three one percent of the original mortgage debt. The
   24  provisions of This paragraph applies apply only if the first
   25  mortgagee joined the association as a defendant in the
   26  foreclosure action. Joinder of the association is not required
   27  if, on the date the complaint is filed, the association was
   28  dissolved or did not maintain an office or agent for service of
   29  process at a location which was known to or reasonably
   30  discoverable by the mortgagee.
   31         2. An association, or its successor or assignee, which that
   32  acquires title to a unit through the foreclosure of its lien for
   33  assessments is not liable for any unpaid assessments, late fees,
   34  interest, or reasonable attorney fees attorney’s fees and costs
   35  that came due before the association’s acquisition of title in
   36  favor of any other association, as defined in s. 718.103(2) or
   37  s. 720.301(9), which holds a superior lien interest on the unit.
   38  This subparagraph is intended to clarify existing law.
   39         Section 2. This act shall take effect July 1, 2014.