Manuel Fernandez authors an article in the Daily Business Review on how the current provisions of the Florida Condominium Act concerning condominium terminations skew bargaining power toward holdout unit owners who own as little as 5% of the voting rights in a condominium. Such a small percentage of owners can reject a plan of termination—even if supported by 80% or more of the total voting interests of the condominium—and prevent the plan or any alternative termination plan from being considered for another two years. This unbalanced bargaining power can have a chilling effect on voluntary terminations of condominium regimes. Manny discusses what developers should consider in developing a successful campaign for support of a plan to terminate a condominium regime and other statutory options they may have available to them.
9.22.2025