florida mortgage condo recreation lease

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mortgage_lending - Florida Retirement Condos
Century Village is South Florida's premiere retirement condominium . Century VillageŽ Real Estate, Inc. has spent many years researching mortgage products and . With our community's Recreation Lease, which is always in a superior (1st) .

Escalating Recreation Leases Anger Condo Owners - Sun Sentinel
May 30, 1995 . A 99-year recreation lease that has risen from $40 a quarter to $405 in the . Klamkin, who also must pay maintenance fees and a mortgage, says . As a result, as many as 200000 condominium owners in Florida are stuck .

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    • Florida Laws on Recreational Leases for Condominiums | eHow.com
      Florida Laws on Recreational Leases for Condominiums. "The Complete Real Estate Encyclopedia" states that recreational leases exist where a condominium developer maintains title to . Requirements for a Florida Condominium Mortgage .

      Florida Condominium Mortgage Down Payment Requirements ...
      Florida condominiums function under slightly different rules than . that recreational leases exist where a condominium developer maintains title to land adjacent .

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    • It's the Law Condo Association Can Buy Unit at Foreclosure | Law ...
      Answer: Florida's Condominium Act addresses your question at Section . lease and mortgage association property for use and benefit of its members. . One exception gives associations power to purchase any land or recreation lease upon .

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    • Searching for Money: A Condominium Association's Guide to ...
      A Condominium Association enjoys broad powers based upon Chapter 718, Florida Statutes, otherwise known as "The Florida Condominium Act." Despite the . For example, an agreement for the purchase of a recreation lease and underlying . Should the Association elect to mortgage its property to acquire financing the .

      Florida Statutes CHAPTER 718 CONDOMINIUMS
      (13) "Condominium property" means the lands, leaseholds, and personal property . (3) All persons who have any record interest in any mortgage encumbering the . The association has the power to purchase any land or recreation lease .

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    With the recent proliferation of condo foreclosures and owners falling behind on . in southern Florida, said it's difficult for a condo or homeowners' associations to . into a long-term recreation lease which, due to significant foreclosure issues, . a lien on a unit because the bank was about to foreclose on the first mortgage.

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    A condo we are interested in, is on a land lease. Is this something to ...
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    sure mortgage loans secured by condominium units in those states that had enacted . Angeles and San Francisco, and parts of Florida,4 however, the only in 1962. . initial profit and take back a recreation lease with escalations to ensure a .

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