Florida Statutes 719.105 – Cooperative parcels; appurtenances; possession and enjoyment
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(1) Each cooperative parcel has, as appurtenances thereto:
(a) Evidence of membership, ownership of shares, or other interest in the association with the full voting rights appertaining thereto. Such evidence must include a legal description of each dwelling unit and must be recorded in the office of the clerk of the circuit court as required by s. 201.02(3).
Terms Used In Florida Statutes 719.105
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the corporation for profit or not for profit that owns the record interest in the cooperative property or a leasehold of the property of a cooperative and that is responsible for the operation of the cooperative. See Florida Statutes 719.103
- Common areas: includes within its meaning the following:(a) The cooperative property which is not included within the units. See Florida Statutes 719.103
- Common surplus: means the excess of all receipts of the association, including, but not limited to, assessments, rents, profits, and revenues on account of the common areas, over the amount of common expenses. See Florida Statutes 719.103
- Cooperative: means that form of ownership of real property wherein legal title is vested in a corporation or other entity and the beneficial use is evidenced by an ownership interest in the association and a lease or other muniment of title or possession granted by the association as the owner of all the cooperative property. See Florida Statutes 719.103
- Cooperative documents: means :
(a) The documents that create a cooperative, including, but not limited to, articles of incorporation of the association, bylaws, and the ground lease or other underlying lease, if any. See Florida Statutes 719.103- Cooperative property: means the lands, leaseholds, and personal property owned by a cooperative association. See Florida Statutes 719.103
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Unit: means a part of the cooperative property which is subject to exclusive use and possession. See Florida Statutes 719.103
(b) An undivided share in the assets of the association.(c) The exclusive right to use that portion of the common areas as may be provided by the cooperative documents.(d) An undivided share in the common surplus attributable to the unit.(e) Any other appurtenances provided for in the cooperative documents.(2) Each unit owner is entitled to the exclusive possession of his or her unit. The unit owner is entitled to use the common areas in accordance with the purposes for which they are intended, but no use may hinder or encroach upon the rights of other unit owners.(3) When a unit is leased, the tenant has all use rights in the association property available for use generally by the unit owner and the unit owner does not have such rights except as a guest. This subsection does not interfere with the access rights of the unit owner as a landlord pursuant to chapter 83. The association may adopt rules to prohibit dual usage by a unit owner and a tenant of cooperative property.