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In Florida can developer rights to a Home Owners Association survive an absolute auction?
Wiki User
∙ 13y ago
This is a question that only an attorney armed with all the facts could answer, and perhaps could be the ruling of a judge.
Logically, the association's assets wouldn't be available for auction unless the developer had failed in some way, so that the developer's rights could survive -- you're correct -- doesn't make much sense.
AnswerA developer's rights in a HOA generally run with the land. If the remaining land in the subdivision is auctioned off, the purchaser will acquire the developer's rights. Laws vary in different jurisdictions. Generally, if there were lots that were already sold at the time of the auction, the subdivision would remain subject to the HOA to protect the rights of already established homeowners.
You can review the document that created the HOA to see if there is a clause stating the rights would pass to a subsequent owner of unsold lots. Sometimes the original developer must assign those rights to a subsequent developer. An attorney who specializes in real estate law would need to review the particular chain of title in order to provide you with a definite answer in your case.
Wiki User
∙ 13y ago
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