Florida Statutes 718.707 – Time limitation for classification as bulk assignee or bulk buyer
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Terms Used In Florida Statutes 718.707
- Bulk assignee: means a person who is not a bulk buyer and who:(a) Acquires more than seven condominium parcels in a single condominium as set forth in…. See Florida Statutes 718.703
- Buyer: means a person who purchases a condominium unit. See Florida Statutes 718.103
- Condominium: means that form of ownership of real property created pursuant to this chapter, which is comprised entirely of units that may be owned by one or more persons, and in which there is, appurtenant to each unit, an undivided share in common elements. See Florida Statutes 718.103
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
A person acquiring condominium parcels may not be classified as a bulk assignee or bulk buyer unless the condominium parcels were acquired on or after July 1, 2010. The date of such acquisition shall be determined by the date of recording a deed or other instrument of conveyance for such parcels in the public records of the county in which the condominium is located, or by the date of issuing a certificate of title in a foreclosure proceeding with respect to such condominium parcels.