High stakes $120m lawsuit over condo termination blocked by rival
guest blog by Deborah Goonan
Here is the flip side of the coin in the chaotic world of Florida’s optional condo terminations.
Owners of roughly 30-year old, 48-unit, Tropicana Condominium in Sunny Isles Beach, Florida, decided they’d like to take advantage of the hot real estate market, and offer their condo for sale to the highest bidder.Back in 2013, a majority of Voting Members of the Association approved an amendment to the declaration, allowing for termination with 80% approval, bringing their documents in line with FL Statute 718.117, which became law in 2007.
