![]() ![]() Merely amending or restating the covenants does not restart the 30-year clock. HOA’s must still look at the Declaration to determine if the covenants expire under their own terms at another date without an automatic renewal. The preservation process will mean that the covenants are effective under MRTA for another 30 years. The Florida statute lays out the process that an association must go through to preserve the effectiveness of the recorded covenants if the 30 years has not yet expired. ![]() The simplified explanation is that the recorded covenants governing a community must be preserved before the end of a 30 year period beginning on the date they were recorded. Unfortunately, there isn’t an exemption to save old (and still active) association covenants unless the affirmative steps are taken to preserve them. Without MRTA, all of these documents still have to be shown on title commitments and policies even though they may have long since become irrelevant and unused. The Marketable Records Title Act (“MRTA”) is a Florida law designed to eliminate “stale” recorded claims that affect the title to real property, such as old recorded leases for which the beneficiaries have long departed or dissolved. Below is a breakdown of the two different processes an HOA must follow to preserve the restrictions before they expire or, if the deadline has been missed, to revitalize the restrictions. I am often contacted by an HOA board at the last minute before their restrictions “expire” under this law and even sometimes after they expire. There is one very important law, however, which board members may not be aware of that can eliminate an HOA’s ability to enforce its restrictions. With the turnover of volunteer homeowner’s association (“HOA”) board members over time, it is not surprising that certain important long-term issues may be overlooked. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |