Best Probate Attorneys in Deerfield Beach, FL

SPECIAL ASSESSMENTS RIGHTS AND OPTIONS FOR FLORIDA CONDO OWNERS Living in a condominium comes with its share of responsibilities, and one often unexpected challenge that condo owners may face is the imposition of special assessments by their condominium associations. In the state of Florida, the term “special assessment” is specifically defined by Florida Statute 718.404(24) as “any assessment levied against a unit owner other than the assessment required by a budget adopted annually.” These assessments are additional fees charged by the condo association, separate from the regular monthly, quarterly, or annual association fees paid by condo owners. Understanding the Scope of Special Assessments Special assessments are not to be taken lightly, as they often cover substantial expenses, ranging from hundreds of thousands to even millions of dollars. These costs are to be divided equally or equitably among condominium owners, with a specific due date for payment. Recent legislative changes, especially in the aftermath of the Surfside condominium collapse, have led to an increase in the imposition of special assessments by condo associations throughout the state of Florida.