FLORIDA – Developers force condo owners out of homes

CCFJ.NET:  Developers force condo owners out of homes

Condo owners “divested” of their homes — Legislation would limit condo termination

 

 

Article Courtesy of The Orlando Sentinel

By Mary Shanklin   

Published February 28, 2015

 

WINTER SPRINGS — Shirley Lofgren, 85, is being forced to sell the sun-filled, waterfront condo she and her husband bought nine years ago for less than a third of the $217,000 they paid for it.
The sale is allowed under a “condominium termination” law passed by the Legislature in 2007.
“Nobody can believe this is legal — that they can just take your home and they’ll give you what they want to give you,” said the former Chicago resident, whose husband now lives in a nearby Alzheimer’s treatment center.
Rep. Chris Sprowls, R-Clearwater, said Lofgren and condo owners across Florida are being “divested” of their own homes.
Winter Springs condo owner Shirley Lofgren, 85, expects to be forced out of her home under a Florida law that allows developers to strip owners of their homes. (George Skene, Orlando Sentinel)
Under the law, developers must get an appraisal to determine the value of a home. But Sprowls said owners are left with little negotiating leverage.
“In this situation, these people are not being permitted to stay in their homes, and that’s just wrong,” said Sprowls, who has proposed a reform bill that would pay relocation fees and above-market value for condo owners who live in their units.  Read more:

 

http://www.ccfj.net/condoDevForceOut.html

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