Pay your bills on time and in full, lose home. A state law can force some Floridians out of their condo units for only a fraction of what they originally paid http://america.aljazeera.com/watch/shows/america-tonight/articles/2015/2/6/florida-condo-law.html It's mind blowing that a person can be forced out of their home despite fulfilling all contractual obligations. Where is the homeowners movement? Why aren't people in the West acting against laws like this in a big way? Why are people like these lawyers allowed to go unmolested?
they should be able to keep ownership, their home AND collect part of the rent from the other appartments
Extremely ugly case. I've read that FL's only real cash crop is rooftops. & that the state will positively roll over for anyone or anything that brings money into their economy. From the sound of this story, it's absolutely true. & the FL Lege has no apparent intention of doing anything that might empty the trough they all feed from. Land & water & housing contracts (& auto insurance too, I remember hearing about) in FL are positively brutal. I have family there, & apparently several of the large national home insurance have ceased doing business in FL - because of the losses incurred in the last couple of hurricanes/tropical storms. Finding someone to do repairs was also a pain, as the massive damage over a large area overwhelmed all the local repair outfits, & you got a wave of fly-by-nights who took advantage of desperate people. (This was several years ago.)
Not too unusual. Imminent domain type laws. If you own a room that's part of a larger building, you can't really expect to have absolute sovereign ownership over it. If these people received fair market value, could they not just buy a similar condo elsewhere?
