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As we get ready to officially open the 2019 Florida Legislative
Session, it will behoove real estate investors (and others) to heed
Judge Gideon Tucker's 1866 quote. A particularly
eye-brow-raising early entrant is HB 155, introduced by
Representative Cortes. Dubbed the "Community Recall Act",
the bill might as well be called the "Investor
Disenfranchisement Act".
The proposed bill would change recalls drastically in HOA
communities by taking away owners' rights to recall the board.
Should this become law, the only members who can vote in a recall
will be those who "physically reside" in the community.
All absentee owners, like snowbirds and investors, will be mere
spectators regardless of their overall investment in a
community.
The bill has received one committee referral as of this writing
– stay tuned for more as the legislative session unfolds.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
