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Florida’s Governor signed House Bill 429 into law, a significant legislative development. This bill deals with real property, timeshares and revising the Timeshare Act.
The Timeshare Act applies to all timeshare plans consisting of more than seven timeshare periods over a period of at least three years when the accommodations and facilities are located or offered within Florida. In addition to regulation under the Timeshare Act, a timeshare plan may also be subject to Chapter 718 and Chapter 719 of the Florida Statutes. If your condominium or cooperative association’s declaration allows for the creation of timeshare estates, it is important that you understand these changes.
The new law goes into effect on July 1, 2024. The following are changes that may impact Florida condominiums and cooperatives:
- Authorizes the board of administration for a condominium or cooperative association that operates a timeshare plan to “delete” facilities provided the deletion of any facilities is approved by a two -thirds vote of the board of administration and consistent with the fiduciary duties set forth in Section 721.13(2).
721.13(8), Florida Statutes
- Grants the managing entity of a timeshare project all the same rights and remedies to remove and refuse to accommodate as that of an operator of a public lodging or public food service establishment.
721.13(14), Florida Statutes
- Requires the managing entity of a timeshare condominium or timeshare cooperative to provide the assessment certificate required under the Timeshare Act in lieu of the estoppel certificate relating to condominium association under Section 718.116, Florida Statues, and cooperative associations under Section 719,108, Florida Statutes.
721.15(7)(b), Florida Statutes
If you have any questions about how this law or others passed during this year’s legislative session will impact your association, please do not hesitate to contact us. We will continue monitoring pending legislation and posting updates on our blog and social media.