IngridB (Florida)
Posts: 1
Posts: 1
Posted:
We are the 3rd board and inexperienced.In checking Official Records, our Declaration of Condominimum contains only 2 mentioned buildings,the balance is just a land description. Last fall the Developer was served a "Lis Pendens" by the bank (under CA 3 MTG foreclosure over 250K) and listed the balance of our buildings as Third Party Summons -as Unknown Tenant's numbered (ie units, which included mine).Although there was an "Order of Dismissal" this order came about by the Developers sale of balance of the units being sold to an investor(which is now another HOA of our large complex). These included restrictions, which I believe are still held by the Bank (as other mortgages might be outstanding).
1. owners think they are an independent association, but the question is although the developer sold his buildings to the owners,is there any underlying developer debt that could jeopardize the units.
2. And under the Declaration of Condominium, with records filed, exactly where do I find the listed unit buildings, which states we are an independent of the developer.
Unfortunately, the further I research, the more problems surface.
1. owners think they are an independent association, but the question is although the developer sold his buildings to the owners,is there any underlying developer debt that could jeopardize the units.
2. And under the Declaration of Condominium, with records filed, exactly where do I find the listed unit buildings, which states we are an independent of the developer.
Unfortunately, the further I research, the more problems surface.