What to do with inherited condo in South Florida

LarryO in Coconut Creek wrote:

If your condo association doesn't allow rentals, hire a lawyer! Chances are they passed the rule without following the requirements of FS 718. Do your homework. These associations are like a noose around the necks of the unit-owners, walk away and don't pay, screw 'em. Why pay $9000 a year on a $40,000 condo? Get real.

I have the same problem: MY mom passed and left a condo (paid off)in a 55 % older community. I am 50 yo and the board said i cant live there, i can sell but not rent.They had just ammended their by -lawsto 100% 55 &b over occupancy.

I am in the same boat: my mom passed and left a condo (paid off) in a 55&over community.(Castle Garden) I am 50 yo and the board said I cant live there, I can sell but not rent. I still have to pay the monthly association fee of $500.00. They just ammended their by-laws to 100% 55& over occupancy. What to do?

ANTHONY wrote:

I am in the same boat: my mom passed and left a condo (paid off) in a 55&over community.(Castle Garden) I am 50 yo and the board said I cant live there, I can sell but not rent. I still have to pay the monthly association fee of $500.00. They just ammended their by-laws to 100% 55& over occupancy. What to do?

Read the HUD regulations I posted.
A 55+ community requires that 80% of the homes/residences must have at least one occupant of 55 or over.
Regardless of any membership vote, they cannot over-rule a higher authority.
The only ways you, as an heir, can be barred from residency would be if you did not meet the financial/moral or dependent(s) requirements.
If you have kids under the association age limit and living with you (usually around 16), you could be barred.
Renting is a matter of wharever is in the association documents. The board CANNOT change that arbitrarily; that's up to a vote of the owners.

Just keep your folks on life support in the back room until you reach age 55.

Bob Greasy wrote:

Sell one to me. I have cash and good credit.

please talk to me about 2 bed condo in Delray Gleaneagles country club just reduced to $20,000. Yes there monthly fees to the hoa of $1,800 but heck think of that as rent only with golf for free.
write me: mba.sales@verizon.net