FL Condos and Timeshares

Question 1

Condo creation

Answer 1

Developer must file declaration of condominium in the county which includes legal description, name, survey and plot.
All owners and recorded lien holders can agree to not be condo assoc anymore.

Question 2

Prospectus

Answer 2

Info sheet must be given to the potential buyer outline the restrictions on the community.
Buyer can get his deposit back if he cancels w/in 15 days of signing Purchase K and before closing.
Must submit to nonbinding arbitration before suit is filed.

Question 3

Timeshare

Answer 3

When the holder gets to use accommodation for less than a year during any year.
Owner must file with FL land sales board.
K must outline length of terms and if owner owes $ on property.
Buyer has right to cancel w/in 10 days.