Legal Question in Real Estate Law in Florida

Real Estate

Can an LLC buy a unit in a condominium ?


Asked on 5/07/07, 7:53 pm

3 Answers from Attorneys

Richard Georges Richard M. Georges, P.A.

Re: Real Estate

The quick answer to this question is yes, but. However, many Condominiums restrict use of condos to residential purposes. Some may restrict the form of ownership. Generally, a prospective purchaser must be approved by the Condominium Board. Additional restrictions on lease terms and length are also common. A review of the Condominium documents would be required to answer the question accurately.

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Answered on 5/07/07, 7:59 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Real Estate

yes

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Answered on 5/07/07, 8:06 pm
Scott R. Jay Law Offices of Scott R. Jay

Re: Real Estate

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Generally, the answer is yes. An interview of the members may be required by the Association in order to be approved as an owner. Some Associations may place further restrictions on ownership which a careful reading of the condominium documents would reveal.

Scott R. Jay, Esq.

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Answered on 5/07/07, 11:39 pm


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