By Alex Dobrev, Esq., of Lowndes, Drosdick, Doster,
Kantor & Reed, P.A., Orlando, Florida; Steven H. Mezer, Esq.,
of Becker & Poliakoff, Tampa, Florida; and Christopher N.
Davies, Esq., of Cohen & Grigsby, P.C., Naples,
Florida
Condominium terminations are governed by Fla. Stat.
§718.117, which allows for termination in cases of economic
waste or impossibility, as well as "optional"
terminations upon requisite approval of the membership. The law was
substantially re-written in 2007 and amended by CS/CS/CS/HB 643,
now known as Chapter 2015-175, Laws of Florida. The Condominium
& Planned Development Committee of the Section was
substantially involved in these efforts.
The most significant substantive changes involve "bulk
owners" in residential condominiums. A bulk owner is defined
as a single holder of voting interests or an owner together with a
related entity or entities that would be considered an insider1
holding such voting interests. If at the time the plan
