Maria S. asked

⚖️  Law

Can a Florida Condo's bylaws be changed to allow future assessments without mortgage lender approval, in a manner that adversely impacts their current mortgages? Specifically, if a $3 million loan assessment is proposed to replace a line of credit used over the past 5 years, how would this change affect the lenders' security interests?

April 16th, 2023

James M. answered

Yes, the bylaws of a Florida Condo can be changed to allow future assessments without mortgage lende...

April 16th, 2023

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