Florida Statutes 718.124 – Limitation on actions by association
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Terms Used In Florida Statutes 718.124
- Association: means , in addition to any entity responsible for the operation of common elements owned in undivided shares by unit owners, any entity which operates or maintains other real property in which unit owners have use rights, where membership in the entity is composed exclusively of unit owners or their elected or appointed representatives and is a required condition of unit ownership. See Florida Statutes 718.103
- board: means the board of directors or other representative body which is responsible for administration of the association. See Florida Statutes 718.103
- Condominium: means that form of ownership of real property created pursuant to this chapter, which is comprised entirely of units that may be owned by one or more persons, and in which there is, appurtenant to each unit, an undivided share in common elements. See Florida Statutes 718.103
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
- Unit: means a part of the condominium property which is subject to exclusive ownership. See Florida Statutes 718.103
The statute of limitations for any actions in law or equity which a condominium association or a cooperative association may have shall not begin to run until the unit owners have elected a majority of the members of the board of administration.