Not a condo, not a cooperative in Fl, then what?

Started by AdrianaS • 3 replies • 1455 views

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AdrianaS (California)
Posts: 48

Posted:

For those that remember me, DonnaS,you helped me a lot,well after first thinking I purchased a condominium, to later listening to the Board, say we are a co-op? Then checking the articles of incorporation,that estate we are a not for profit corporation organized to operate and maintain a co-operative building?
Document dated from 1959,but they never operated as a cooperative,and never registered the cooperative,only the corporation?
Kept a condominium sign in front of the building,but operated as a co-op?
And today trying to get a loan modification,I inform the bank we are a
cooperative they say no, and fax me the copy of the Homeowners Association Certification from 2004 when I applied for the loan, and is confirmed by the Board President the we are a Condominium?
I go to the Board,they say they don't care, they are not changing anything?
Because is to expensive to do and that I am a trouble maker.
According to my lawyer we have expired covenants that anyway nothing runs with the land, and according to him,we are nothing legally?
Has any of you seen anything like it? Any advise.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Adriana,

If the Bank shows you a certification letter dated 2004, that you are a condominium, then that is all that is needed. Your Articles of Inc should have been updated to a condo org but even if they are not, what you are filed in the State as condominium, that is what you are.

Old HOAs like this are many times lax in keeping indivdual filings up to date. I would suggest that you follow what the Bank is tellig you. They showed you or told you that the certification is dated 2004 and that should be enough proof.

I read the Statutes 719 which are the co-ops, then read the 718, which are condos. They are very similar in most all aspects so I am starting to believe that you are really worried about too much. The association IS registered with the State as a condo, making Statutes 718 what you follow.

The first time that you heard the word "CO-OP" was from an old BOARD member and old documents say that you operated as a co-op. Right. Then somewhere down the road, it changed to a condo?

I don't understand what you want the Board to change. Back to a co-op? Why? Perhaps co-op is an antiquated term that was morphed into the term condo?

AdrianaS (California)
Posts: 48

Posted:

Donna,
Thank you for always been so helpful,but I purchased in 04,when the Board at the time signed the homeowners certification as a condominium? But in 05,an attorney hired by Board that same Board, advised them in writting, to remove the Condominium signs from the building, because it was misleading? The attorney also said, that we are not a condominium nor a coop? Because they failed to register properly? We are just a Corporation. But I have more.
So, the mess continues, I will keep in touch.

GlenL (Ohio)
Posts: 5,491

Posted:

With respect Adriana if you don't know, how are we supposed to??? I suspect someone is going to have to pay some money and hire an attorney to sort it out. If the next attorney says no you're not a co-op, you're a condo, then what? You file suit and let a judge decide what you are.

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