Ch 5
Responsibilities for warranties and other obligations remain with the developer after the turnover, and conformance with statutory limitations that includes what period of time for warranty beginning with completion of construction of the building, after turnover to members which ever occurs last but not more than
-3 year warranty beginning with completion of construction of the building -1 year after turn over to members which ever occurs last -but not more than 5 years (3-1-5 rule)
Who must audit all financial statements in accordance with generally accepted accounting principles (GAAP) as prescribed by the Florida word of accountancy?
An independent certified public accountant (CPA)
When the developer has conveyed 15% of the total units to non-developer members, the non-developer members are entitled to elect
1/3 of the board (usually one Director)
Any homeowner may or rent a freestanding flag pole no more than how many feet on any portion of the real property, regardless of any covenants, restrictions, bylaws, rules, or requirements on association, provided that the flagpole does not have struggled sidelines are intersections and is not updated within or upon an easement?
20 feet high
Developer is entitled to elect at least one Director, provided a developer hold for sale in the ordinary course of business at least
5% of the parcels and all phases of the community
The developer must call a member meeting to elect directors within
75 days after conveyance of the 15%
If the declaration is silent, any such transaction requires approval of
75% TVI
In a condominium or cooperative, after turnover, the members may cancel a contract entered into by the developer by a vote of
75% TVI
Add the time that members are entitled to elect at least a majority of the board , The developer shall, within no more than how many days at the developers expense, deliver the records and properties association to the board?
90 days
Who must examine -cash disbursements and related paid invoices to determine if expediters were for Association purposes and the billings -cash receives, and related records to determine that the developer was charged and paid the proper amounts of assessments
An independent certified public accountant (CPA)
Before turnover of control to members who may vote the voting interests allocated towards units to waive the reserves or reduce the funding of reserves, but only through the. Expiring at the end of the second fiscal year after the fiscal year in which the certificate of surveyor or mapper is recorded?
A Condominium Developer
This occurs when a developer transforms our property and existing improvements to residential Condominium or Cooperative
A conversion
What terminates after specific number of years, either by statute or I stated in the declaration
A declaration of covenants
What is considered a "lowspeed vehicle"?
A neighborhood electric vehicle (NEV)
County or municipal LDRs (zoning codes) establishes the distance that
A parcel must be from another parcel (side set back) or from the main road (main setback)
Who and what period of time to object to certain conditions of the revitalize documents, including that their property should be excluded from the HOA?
A parcel owner made comments and action within one year after the fact of the day of the revitalization
In a condominium, cooperative, or HOA, a member may petition the court to appoint what if the board fails to elect or appoint sufficient directors to establish a quorum
A receiver
It's a lawsuit that is brought by a person, business entity, or a governmental entity against a community Association or member because that association or member appeared or made a presentation before a governmental entity on a matter related to the association
A strategic lawsuit against public participation (SLAPP)
The developer must provide The association with what within 90 days after the transition meeting?
An audit of the association financial records
What refers to the powers and duties of an association to review and approve plans and/or specifications for alteration of a structure or the grounds to ensure the alteration conforms with the governing documents with regard to appearance, location and size?
Architectural control
The first purchasers to acquire more than seven Parcells i and is assigned some or all of the rights of the developer is referred to as
Bulk assignee
Any purchasers require more than seven parcels I referred to as
Bulk buyers
Who -conducts sales, marketing, and leasing activities within the association -be exempt from payment of working capital contributions arising out of, or in connection with, the bulk buyers acquisition of units -be exempt from any rights of first refusal from association
Bulk buyers
If a contract for services or the purchase, lease, or renting of materials or equipment requires payments by the association
That exceeds 10% of the total annual budget of the association, including reserves, the association most obtain a competitive bid
Condominiums and HOAs May conduct bingo games, conditioned upon their return of the net proceeds from such games to players as prizes, and I need to access after business expenses and prize monies are given to
Charities
Who provides specific requirements for acquisition of such facilities, including a vote of the membership, in which the acts also require Declaration and bylaws to provide that rental, membership fees, operations, replacements, or other expenses are common expenses; to impose covenants and restrictions concerning their use
Condominium and Cooperative acts
And association may enter into agreements to acquire We told, memberships, and other possessory or use interests and land or facilities
Condominium and HOA Acquisitions
Employees, attorneys, accountants, architects, community association managers, engineers, landscape architects
Contracts with the following persons or entities are not subject to competitive bidding requirements
When under this control the same management responsibilities as a member control board, this includes holding member and board meetings, maintaining records, and preparing budgets
Developer controlled
Any seller who sells, leases, or offers to sell or lease any service to our community association pursuant to a service contract that has an automatic renewal provision must
Disclose the automatic renewal provision clearly and conspicuously in the contract or a contract offer
This act is a result of the great recession and massive downturn in the condominium market, the act was created to promote the purchase of unsold developer only units and units from delinquent owners
Distressed Condominium relief act
When can a Condominium be terminated
Economic waste and disrepair of property and continued operation impossible by law or regulation
What is EVCS
Electronic vehicle charging station
Some members of a community association are not aware that, when they buy a unit, they are not only bound by the documents but are in addition responsible for
Every contract and agreement that has been made by the association
No socialization must obtain competitive bids if a contract
Exceeds 5% of associations total annual budget, including reserves
The members of a secondary Condominium Inn subject about the primary and secondary Condominium and Declaration, in which a method for creating a second Condominium within an
Existing condominium
In a condominium, cooperative, or HOA, though Developer is entitled to a special exemption from payment of assessments of the following -The maximum dollar amount of assessment for each parcel or unit -The period that is covered by the guarantee -assurance that the ending date as a guarantee is the same for all members -that's a guarantee can have the extender for more than one period
For as long as the developer guarantees to each purchaser that assessments below will not be increased overstated amount
In a condominium, cooperative, or HOA, though Developer is entitled to a special exemption from payment of assessments of the following -that the developer is responsible for paying any deficiency and expenses of maintaining the property and assets exceeding the guaranteed amount, less regular periodic assessments from the members other than the developer -that amount owed by the developers based on the accrual method -that the developer may not use any other sources of revenue to offset the currency, including capital contributions, interest income, revenue from vending machines, or amenity fees
For as long as the developer guarantees to each purchaser that assessments below will not be increased overstated amount
A special privilege to do certain things that is conferred by government on an individual or a corporation it's called
Government franchise agreement
This consists of both residential and commercial units. The condominium Action brooooo Hwy Beach The Ahhhh Camino Ahhhh Santa Ahhhh and Ramen The Ahhhh Mirschel unit owners to have the authority to veto amendments to documents or rules and regulations that were passed by residential unit owners, where the number of residential units equals or exceeds 50% of the total units, the residential unit owners are entitled to a majority of the seats on the board
I'm mixed use condominium
It's a form of bingo that has played at the same location as bingo, by which a player One surprised by opening at tickets reveals item numbers, letters, objects or patterns, some of which I've been designated in advance as prize winners
Instant bingo
An HOA may review and approve plans and specifications of a structure or the grounds for external appearance only so the stand that they are specifically stated in documents or reasonably inferred regarding
Location, size and type or appearance
Who is entitled to elect at least a majority of members of the board of the homeowners association when the earlier of the following events occurs -three months after 90% of the parcels in all phases of the community the world will he be operated by the homeowners association I've been conveyed to members -search other percentage of the parcels that have been conveyed to members, or such other day or event has occurred, as a set forth in the governing documents to comply with the requirements of any governmental he chartered entity with regard to the mortgage financing of parcels -upon the developer abandoning or deserting its responsibilities to maintain and complete amenities or infrastructure as disclosed in the governing documents
Members other than the developer
Who is entitled to elect at least a majority of members of the board of the homeowners association when the earlier of the following events occurs -upon a developer filing a petition seeking protection under chapter 7 of the US bankruptcy code -upon the developer losing title to the property through a foreclosure action -upon a receiver for the developer being appointed by a circuit court
Members other than the developer
This is not considered a material alternation or adverse alteration of the proportion of voting interest appurtenant to a parcel
Merger or consolidation of one or more H always under a plan of merger or consolidation
This refers to a real estate development containing two or more condominiums, all of which have their own boards and are a member of a master association that has a board and provides certain combined functions for all associations
Multi condominium
Who has all powers and duties of a duly Constitution board and serve until the association feels the vacancies on the board sufficient to constitute a quorum, or until the court relieves who of the appointment
Receivers
the HOA act was amended to give parcel owners protection by stating that each parcel Has only one front for the purposes of determining
Setbacks
The governor requires to adopt a protocol that provides guidelines for the proper display of
The state flag
The condominium at permits members to install electric vehicle charging stations within
The boundaries of a members limited common element parking area
The termination of a condominium does not change
The corporate status of the association, the corporation must be dissolved separately from termination of the community association
Who appoints the first board of directors, usually composed of three directors, there any action that is taken by the board Wawa Association is under whose control is presumed to be of who
The developer
Who cannot commingled any association funds with its funds or with the funds of any other homeowners association or community association?
The developer
Who cannot exercise their right to vote its units if it would influence the election of a majority of the board?
The developer
Who must call a meeting with and 75 days of the triggering event, giving 60 days notice of the election?
The developer
Who must meet the following requirements to elect or appoint at least one Director -The project has fewer than 500 units, and owns at least 5% of the units -The project has more than 500 or more (cooperative) , Or more than 500 (Condominium) units, and owns at least 2% of the units
The developer
Under his control has these triggering events -once some of the units have been conveyed to buyers and none of the other planned units are being constructed or offered for sale by the developer in the ordinary course of business -(cooperative only) seven years after creation of the corporative association -(condominium only) when receiver for the developer is appointed by the circuit court, seven years after the date of recording of the certificate of a surveyor and mapper, we're in association may ultimately operate more than one condominium, where association will operate a phase condominium
The developer continues to control 2/3 of the board until the non-Developer members become eligible to elect a majority of the directors
Under who's control has these triggering events -three years after 50% of the units they will ultimately be operated by association have been conveyed to buyers -three months after 90% of the units they were ultimately be operated by the association have been conveyed to buyers -once all units they were ultimately be operated by the association has been completed, some of them have been conveyed to buyers, and none of the others are being offered for sale by the developer in the ordinary course of business
The developer continues to control 2/3 of the board until the non-Developer members become eligible to elect a majority of the directors
A lessee and Remember do not both have do use rights of a member while a unit is leased. If I member leases their unit, the lessee and member have
The lessee has the use rights of a member, and the member has the rights of a guest
This requires a specific process of the board or a committee of members rewriting or revitalizing a declaration contacting all parcel owners to be governed under the revitalize declaration of covenants, having the documents approved by those members, and sending the documents to the Florida Department of economic opportunity (FDEO) for review and approval
To revitalize the covenants
The following applies to what -it cannot contain provisions that are more restrictive than in the original declaration -It can omit prior restrictions -it can govern fewer parcels
To the HOA revitalized Declaration
When do -members may examine the supporting documents and records, such as cash disbursements and paid invoices -members can determine whether expenses were for association purposes as appropriate -members may ascertain whether the records show that the developer paid the proper amounts -The developer must provide a turnover audit
When association documents turned over and this is what's included in financial records