Florida Statutes 718.614 – Economic information to be provided
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 718.614
- 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
- Division: means the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation. See Florida Statutes 718.103
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The developer shall distribute to tenants having a right of first refusal, if any:(1) Information in summary form regarding mortgage financing; estimated down payment; alternative financing and down payments; monthly payments of principal, interest, and real estate taxes; and federal income tax benefits.(2) Any other information which the division publishes and by rule determines will assist tenants in making a decision and which the division makes available to the developer.