Gov.
Jeb Bush vetoed a bill last week that would have given
condo owners a way to reconcile assets (of individual
units and all common elements) in the event the
condominium is destroyed by a natural disaster.
Currently,
every owner of a condo complex must agree to a sale
before it can occur.
Under SB 1556, only 80% of a condo
community’s owners would have to consent, thereby
preventing a minority of owners from holding up the
sale of destroyed or hurricane-ravaged condos.
“I believe it is necessary to provide for
involuntary termination of condominiums in the
aftermath of catastrophic event” the governor said
in his veto message.
But
SB 1556 “changes the default provision of requiring
the consent of all unit owners for termination in
existing law and pe
rmits voluntary termination in virtually any
circumstances, thereby diminishing security in
ownership of private property.”
The addresses are:
Governor Jeb Bush at Jeb.Bush@MyFlorida.com,
