CONDOMINIUMS

摘要

The Florida District Court of Appeals held that the mortgage foreclosure liens for condominium units held by the FNMA had state statutory priority over the unpaid assessment liens held by the condominium association and currently in receivership, but that the FNMA liens were subject to those condominium assessments mandated by the state's Safe Harbor Statute. Federal National Mortgage Association v. JKM Services, LLC, - So.3d -, 2018 WL 4762398, No. 3D17-370 (Fla. Dist. Ct. App. Oct. 3, 2018). The Cedar Woods Homes Condominium Association ("Association") in Dade County, Florida relied on assessment payments for repairs, maintenance, and capital improvements. In 2009, as the financial crisis deepened, it had more than a 90% assessment delinquency rate for its 165 condominium units, the majority of which units were also in foreclosure. Some units had been abandoned and left vacant for two years. Lenders and loan servicers for the units in foreclosure did not expeditiously prosecute their cases. Further, Under the Florida "Safe Harbor Statute," section 718.116(b), Florida Statutes (2014), foreclosing lenders obtaining title had no obligation to pay accrued arrearages for assessments in excess of the lesser of "unpaid common expenses and regular periodic assessments which accrued or became due during the 12 months immediately preceding the acquisition of title [by the lender]" or one percent of the original mortgage debt.