Developer Turnover in Florida
FL developer turnover: developer transfers HOA/condo control to owners. Condo (Chapter 718, Section 718.301): when developer < 50% units. HOA (Chapter 720, Section 720.307): when 90% lots conveyed. Must turn over: original documents, financial records, insurance, contracts, common areas, reserves, warranties, and seal. Common problems: underfunded reserves, construction defects, unfavorable contracts, and missing records. Hire attorney + engineer for turnover inspection.
When It Happens
- Condo: developer < 50% (Section 718.301)
- HOA: 90% lots conveyed (Section 720.307)
What’s Turned Over
- Documents, financials, insurance
- Contracts, common areas
- Reserves, warranties
Common Problems
- Underfunded reserves
- Construction defects
- Unfavorable contracts
Related Terms
- HOA — Association
Barnes Walker Real Estate
Barnes Walker’s attorneys handle developer turnover in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC