Florida Regulations 61B-15.007: Developer, Defined
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(1) For purposes of filing under Sections 718.202, 718.502, 718.503, 718.504 and 718.505, F.S., and Fl. Admin. Code R. 61B-23.003, the term developer includes, subject to the exceptions provided in Florida Statutes § 718.103(16), or these rules:
(a) A creating developer, which means any person who creates a condominium;
(b) A successor or subsequent developer, which means any person, other than the creating developer or concurrent developer, who offers condominium parcels for sale or lease for more than 5 years in the ordinary course of business; and
(c) A concurrent developer, which means any person who acts concurrently with a developer in offering to sell or lease for more than 5 years condominium parcels in the ordinary course of business. As used in this rule, person includes natural persons, corporations, partnerships, limited liability companies, and any other legal entities.
(2) The following constitutes “”offering condominium parcels in the ordinary course of business”” for filing purposes, as defined by subsection 61B-15.0011(4), F.A.C., where that person:
(a) Offers more than 7 parcels, or for condominiums comprised of less than 70 parcels, where that person offers more than 5 parcels in the condominium within a period of 1 year; or,
(b) Participates in a common promotional plan that offers more than 7 parcels within a period of 1 year. A person is not, however, deemed to have participated in a plan merely by virtue of providing financial contributions or professional or brokerage services.
(3) Notwithstanding the above, one is not offering condominium units in the ordinary course of business for filing purposes, as defined by subsection 61B-15.0011(4), F.A.C., where all of the units are offered and conveyed to a single purchaser in a single transaction. An example of such a transaction would be a financial lending institution receiving title to a number of condominium units through foreclosure or deed in lieu of foreclosure and then conveying all of such units to another person. In such circumstances, the lending institution would not be deemed to be a developer for filing purposes. However, such entity shall, upon the conveyance to a single purchaser, notify the division in writing of the identity and business address of the purchaser, the name of the condominium involved, the date of the conveyance and the number of units conveyed.
(4) For purposes of filing with the division, as defined by subsection 61B-15.0011(4), F.A.C., one is not offering condominium parcels for sale or lease for more than 5 years in the ordinary course of business where that person offers parcels in a condominium that consists of 7 or fewer residential units including all residential units planned in a phase condominium and all residential units planned within a multicondominium. However, this shall not relieve the developer of the duty to file a notice of recording information and pay annual fees as required by Sections 718.104(2), 718.403(8), and 718.501(2)(a), F.S. and subsection 61B-17.001(3), F.A.C.
(5) This rule applies to developer filing requirements and shall not exempt a developer from complying with all other provisions of the Condominium Act where the developer is offering fewer units than specified in this rule.
Rulemaking Authority 718.501 FS. Law Implemented 718.103(11), (12), (16), (23), 718.104(2), 718.106, 718.403(8), 718.502-.505 FS. History-New 10-1-85, Formerly 7D-15.07, Amended 1-27-87, 7-10-88, 3-21-89, 6-13-89, Formerly 7D-15.007, Amended 11-14-95, 12-23-02, 3-7-06, 4-2-09.
Terms Used In Florida Regulations 61B-15.007
- 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
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(b) A successor or subsequent developer, which means any person, other than the creating developer or concurrent developer, who offers condominium parcels for sale or lease for more than 5 years in the ordinary course of business; and
(c) A concurrent developer, which means any person who acts concurrently with a developer in offering to sell or lease for more than 5 years condominium parcels in the ordinary course of business. As used in this rule, person includes natural persons, corporations, partnerships, limited liability companies, and any other legal entities.
(2) The following constitutes “”offering condominium parcels in the ordinary course of business”” for filing purposes, as defined by subsection 61B-15.0011(4), F.A.C., where that person:
(a) Offers more than 7 parcels, or for condominiums comprised of less than 70 parcels, where that person offers more than 5 parcels in the condominium within a period of 1 year; or,
(b) Participates in a common promotional plan that offers more than 7 parcels within a period of 1 year. A person is not, however, deemed to have participated in a plan merely by virtue of providing financial contributions or professional or brokerage services.
(3) Notwithstanding the above, one is not offering condominium units in the ordinary course of business for filing purposes, as defined by subsection 61B-15.0011(4), F.A.C., where all of the units are offered and conveyed to a single purchaser in a single transaction. An example of such a transaction would be a financial lending institution receiving title to a number of condominium units through foreclosure or deed in lieu of foreclosure and then conveying all of such units to another person. In such circumstances, the lending institution would not be deemed to be a developer for filing purposes. However, such entity shall, upon the conveyance to a single purchaser, notify the division in writing of the identity and business address of the purchaser, the name of the condominium involved, the date of the conveyance and the number of units conveyed.
(4) For purposes of filing with the division, as defined by subsection 61B-15.0011(4), F.A.C., one is not offering condominium parcels for sale or lease for more than 5 years in the ordinary course of business where that person offers parcels in a condominium that consists of 7 or fewer residential units including all residential units planned in a phase condominium and all residential units planned within a multicondominium. However, this shall not relieve the developer of the duty to file a notice of recording information and pay annual fees as required by Sections 718.104(2), 718.403(8), and 718.501(2)(a), F.S. and subsection 61B-17.001(3), F.A.C.
(5) This rule applies to developer filing requirements and shall not exempt a developer from complying with all other provisions of the Condominium Act where the developer is offering fewer units than specified in this rule.
Rulemaking Authority 718.501 FS. Law Implemented 718.103(11), (12), (16), (23), 718.104(2), 718.106, 718.403(8), 718.502-.505 FS. History-New 10-1-85, Formerly 7D-15.07, Amended 1-27-87, 7-10-88, 3-21-89, 6-13-89, Formerly 7D-15.007, Amended 11-14-95, 12-23-02, 3-7-06, 4-2-09.