Florida Statutes 718.708 – Liability of developers and others
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Terms Used In Florida Statutes 718.708
- 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
- Developer: means a person who creates a condominium or offers condominium parcels for sale or lease in the ordinary course of business, but does not include:
(a) An owner or lessee of a condominium or cooperative unit who has acquired the unit for his or her own occupancy;(b) A cooperative association that creates a condominium by conversion of an existing residential cooperative after control of the association has been transferred to the unit owners if, following the conversion, the unit owners are the same persons who were unit owners of the cooperative and no units are offered for sale or lease to the public as part of the plan of conversion;(c) A bulk assignee or bulk buyer as defined in…. See Florida Statutes 718.103- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Unit: means a part of the condominium property which is subject to exclusive ownership. See Florida Statutes 718.103
An assignment of developer rights to a bulk assignee or bulk buyer does not release the original developer from liabilities under the declaration or this chapter. This part does not limit the liability of the original developer for claims brought by unit owners, bulk assignees, or bulk buyers for violations of this chapter by the original developer, unless specifically excluded in this part. This part does not waive, release, compromise, or limit liability established under this chapter except as specifically excluded under this part.