Post by Admin on Oct 14, 2013 0:42:04 GMT -5
Cross-posted from AnonNews
April 15, 2013
Attorney advised, per my question: "Can revitalization that is ratified by a majority owners re-encumber my property retroactively", here is excerpt:
"...revitalization (because it is not retroactive) does not impact homestead property. This means that, if covenant revitalization occurs, the priority of the revitalization dates from the date of the revitalization. It does not relate back to the originally recorded declaration. This means that if your property is homestead, then because the revitalized covenants do not pre-date your having established homestead, they do not encumber your property."
Note that revitalization is not retroactive; it is a NEW Delaration based upon the extinguished one. Note this relates to non-homestead property.
The message here is to declare your parcel a homstead now, if that is feasible, to avoid having Covenants reimposed at some time in the future should SLohA revitalize CC&R's.
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April 17, 2013
Here is the law that relates to the above:
The relevant revitalization statute is the second half of Florida Statutes Section 720.407 (4)
Upon recordation, the revived declaration sH all replace and supersede the previous declaration with respect to all affected parcels then governed by the previous declaration and sH all have the same record priority as the superseded previous declaration. With respect to any affected parcels that had ceased to be governed by the previous declaration as of the recording date, the revived declaration may not have retroactive effect with respect to the parcel and sH all take priority with respect to the parcel as of the recording date.
This statute clearly reflects an understanding of the Florida Constitutional homestead right against forced sale. The homestead properties whose covenants have already expired have established homestead that pre-dates the effective date of the recorded revitalized covenants. What that means is that if you have a property that has extinguished covenants and you live or have an intent to live on that property, revitalization will never enable the HOA to lawfully foreclose on your home as long as you live there.
April 15, 2013
Attorney advised, per my question: "Can revitalization that is ratified by a majority owners re-encumber my property retroactively", here is excerpt:
"...revitalization (because it is not retroactive) does not impact homestead property. This means that, if covenant revitalization occurs, the priority of the revitalization dates from the date of the revitalization. It does not relate back to the originally recorded declaration. This means that if your property is homestead, then because the revitalized covenants do not pre-date your having established homestead, they do not encumber your property."
Note that revitalization is not retroactive; it is a NEW Delaration based upon the extinguished one. Note this relates to non-homestead property.
The message here is to declare your parcel a homstead now, if that is feasible, to avoid having Covenants reimposed at some time in the future should SLohA revitalize CC&R's.
________________________________________________________________________________________________
April 17, 2013
Here is the law that relates to the above:
The relevant revitalization statute is the second half of Florida Statutes Section 720.407 (4)
Upon recordation, the revived declaration sH all replace and supersede the previous declaration with respect to all affected parcels then governed by the previous declaration and sH all have the same record priority as the superseded previous declaration. With respect to any affected parcels that had ceased to be governed by the previous declaration as of the recording date, the revived declaration may not have retroactive effect with respect to the parcel and sH all take priority with respect to the parcel as of the recording date.
This statute clearly reflects an understanding of the Florida Constitutional homestead right against forced sale. The homestead properties whose covenants have already expired have established homestead that pre-dates the effective date of the recorded revitalized covenants. What that means is that if you have a property that has extinguished covenants and you live or have an intent to live on that property, revitalization will never enable the HOA to lawfully foreclose on your home as long as you live there.