Terms Used In Florida Statutes 719.62

  • 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
  • Rental agreement: means any written agreement, or oral agreement if for less duration than 1 year, providing for use and occupancy of premises. See Florida Statutes 719.103
  • Unit: means a part of the cooperative property which is subject to exclusive use and possession. See Florida Statutes 719.103
When existing improvements are converted to cooperative, tenants who have not purchased a unit in the cooperative being created shall, during the remaining term of the rental agreement and any extension thereof, be entitled to the same rights, privileges, and services that were enjoyed by all tenants prior to the date of the written notice of conversion and that are granted, offered, or provided to purchasers.