CindyW6 (Florida)
Posts: 11
Posts: 11
Posted:
I have done extensive research to find answers. We live in a small mandatory HOA, NFP corporation that is active. I have copies of all root titles. First one expired in 2016, the last in 2019. The current Board was just made aware of the MRTA expiration and now they are scrambling to 'cover' their tracks. It is clear from MRTA that they must go the Revitalization route. They filed Amended Restrictions just recently. Verbage that was added was not voted on by the majority of the property owners.
Since 2019 with the last lot aging out at 30 years, the enforcement of restrictions is gone and so it their authority to enforce anything. There are owners that do not want to be included in the HOA if they try to revitalize. We have no common areas, just a private road. They have recently spent money on attorney fees to look into MRTA expiration. They are also saying that nothing has changed in regards to collections of dues and compliance with restrictions, fines and liens.
What happens to the HOA money? Does it get disbursed back to the property owners who were owners when their restrictions expired? Who funds the revitalization process? From what I am reading that can be quite expensive. We have privately consulted with a MRTA lawyer who tells us that the restrictions have expired for our lots.
Since 2019 with the last lot aging out at 30 years, the enforcement of restrictions is gone and so it their authority to enforce anything. There are owners that do not want to be included in the HOA if they try to revitalize. We have no common areas, just a private road. They have recently spent money on attorney fees to look into MRTA expiration. They are also saying that nothing has changed in regards to collections of dues and compliance with restrictions, fines and liens.
What happens to the HOA money? Does it get disbursed back to the property owners who were owners when their restrictions expired? Who funds the revitalization process? From what I am reading that can be quite expensive. We have privately consulted with a MRTA lawyer who tells us that the restrictions have expired for our lots.