For condominium associations, Florida Statute 718 creates an exception where the statute of limitations will not begin to run until the unit owners elect a majority of the members of the board. (Andriy Blokhin/Shutterstock)
The Florida Legislature recently passed statutory changes that, among other things, reduce the time condominium and property owners have to file lawsuits over construction defects from ten years to seven years. This means that owners purchasing newly constructed properties years after construction could be left with no recourse if the property was defectively designed or constructed.
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