A new bill to be introduced in the legislative session that begins tomorrow in Tallahassee aims to prevent instances of fraud in real estate associations and criminalize those responsible.
If passed, this bill will protect millions of people. There are approximately 22.5 million people in Florida, and more than half live in condominiums and association properties.
Residents of the Palm Bay Yacht Club building in northeast Miami are legally battling the condo association over the cost of the property’s 40-year recertification. About $48 million in repairs.
The HB 919 proposal:
-Offers protection to co-owners and associations
-Reduces electoral fraud
-Recommends changes in laws to penalize electoral fraud
-Gives better access and greater transparency of the association’s documents and accounts
-and protects against corruption
The purpose of the proposal is to avoid cases of fraud such as the Hammocks Association, where directors were arrested for participating in a scheme to defraud and extort millions of dollars.
Under the bill, residents will be able to file a complaint with the Department of Business and Professional Regulation, which within 72 hours must report it to the state law enforcement department who will investigate any allegations. of criminal activity.