What is the Florida Cooperative Act?

What is the Florida Cooperative Act?

Chapter 719 of the Florida Statutes, also known as the Cooperative Act, is a chapter of law that governs cooperatives in the State of Florida. The Cooperative Act should be read in conjunction with Chapters 61B-75 through 79, Florida Administrative Code.

What is Florida Statute 455?

Unlicensed practice of a profession; cease and desist notice; civil penalty; enforcement; citations; allocation of moneys collected.

What is the difference between a condo and a coop in Florida?

When you buy a condo, you own the unit and a percentage of the common areas. When you buy a co-op, you actually purchase a share of the property, and your lease enables you to live in a unit.

Who is the owner of common space in a cooperative?

A co-op owner — often called a shareholder — does not own the unit. In fact, you could call that person a tenant. The co-op association, which is usually a corporation consisting of all the shareholders, owns the entire building, including all of the individual units.

What is Florida Statute 475?

475.05 Power of commission to enact bylaws and rules and decide questions of practice. 475.10 Seal. 475.125 Fees. 475.15 Registration and licensing of general partners, members, officers, and directors of a firm.

What is section 719 1035 of the Florida real estate code?

Section 719.1035, as amended by s. 6, ch. 99-382, does not have a subsection (4). 719.501 Powers and duties of Division of Florida Condominiums, Timeshares, and Mobile Homes. 719.502 Filing prior to sale or lease. 719.503 Disclosure prior to sale. 719.504 Prospectus or offering circular. 719.505 Good faith effort to comply.

What are the requirements of the 719 saving clause?

719.622 Saving clause.— (1) All notices of intended conversion given subsequent to the effective date of this part shall be subject to the requirements of ss. 719.606, 719.608, and 719.61. Tenants given such notices shall have a right of first refusal as provided by s. 719.612.

What is chapter 719 of the New York State Cooperative Act?

719.131 Law enforcement vehicles. 719.101 Short title.— This chapter shall be known and may be cited as the “Cooperative Act.” History.—s. 2, ch. 76-222. 719.102 Purpose.— The purpose of this chapter is to give statutory recognition to the cooperative form of ownership of real property.

What does assessment mean in chapter 719 of a lease?

719.103 Definitions.— As used in this chapter: (1) “Assessment” means a share of the funds required for the payment of common expenses, which from time to time is assessed against the unit owner.

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