As the foreclosure tsunami recedes, judges and legislators are tweaking the laws that determine who gets stuck with the bills. Many are for past-due condominium fees.

That’s where Florida’s safe harbor provision comes into play. It caps condo assessments owed by “a first mortgagee or its successor or assigns” that acquires title through foreclosure. Liability is limited to the lesser of 12 months of fees or 1 percent of the original mortgage debt.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]