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“Stablecoins and Central Bank Digital Currencies (CBDCs): The Future of Money” – Financier Worldwide

Like the rest of the world, money is going digital. Credit and debit cards, electronic fund transfers, online services like PayPal, and peer-to-peer services got a boost during the COVID pandemic. Cryptocurrencies did as well, along with decentralized finance (DeFi) and smart contracts. In the latest issue of Financier Worldwide, Becker Shareholder Robert C. Brighton, […]

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“The New Fannie Mae and Freddie Mac Lender Questionnaire: To Answer, or Not to Answer, That is the Question!” – CAI NJ Community Trends

Prompted by the Champlain Towers Condominium collapse in Surfside, Florida, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) recently issued new temporary requirements as an attempt to mitigate risk in community association loan underwriting. Many other industries within the community association world, such as insurance, have adjusted […]

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“Tolling the Statute of Limitations for Community Association Construction Defect Claims” – CAI NJ Community Trends

On January 11, 2022, New Jersey Governor Phil Murphy signed into law a statute that amends the Statute of Limitations (SOL) for the filing of a lawsuit against a developer, its design professional and subcontractors for construction defects. While it was common interpretation of applicable case law that an owner-controlled board had at least six […]

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The Real Housewives Meet the Internal Revenue Service

The Maserati was leased, but never reported. Forty thousand dollars a month was paid to a glam squad to “perfect a look” for housewives dining out on an ordinary Tuesday evening. The ostentatious spending—and the outsized personalities that that it accompanies—attracted an audience that very few want: the IRS. In all its variations, The Real […]

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“Preparing for Success – What Associations and Management Companies Should Consider When Contemplating Doing Business With Each Other” – FCAP Managers Report

Hiring a property management company is one of the most important decisions a community association can make. In turn, taking on a new community association client has significant implications for a property management company. A bad fit can be problematic for all involved. Understanding what each party expects and offers at the outset will give […]

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“Impact of 2022 Legislative Summary on Community Associations” – FCAP Managers Report

The 2022 session of the Florida Legislature was statistically slightly above average with 1700 bills considered in its 60-day session. A total of 238 bills were passed by both houses and will be presented to the governor for his signature. Thirty bills were filed that could have impacted community associations. For residents of condominiums, the […]

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“COVID Lingers/So Do Legal Questions” – News-Press

Q: Now that we are no longer under the COVID state of emergency in Florida, can a homeowners’ association hold “Zoom only” board meetings or are they required to have an announced meeting venue where owners can attend in person? (C.J., via e-mail) A: While your question is simple enough, the correct legal answer isn’t. […]

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“Must Owners Approve New Flooring in Clubhouse?” – Naples Daily News

Q: The new board at my condominium removed the carpet in the clubhouse and had luxury vinyl flooring installed in its place. Weren’t they required to get owner approval before making this type of change? D.M. A: Maybe. Replacing carpet with vinyl flooring in the clubhouse will be considered a material alteration. The Florida Condominium Act […]

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“2022 Community Association Legislation – What Happened?” – FCAP Managers Report

After the Surfside tragedy, everyone wanted to know how such a tragedy could happen and what steps could be taken to avoid similar incidents in the future. What caused the collapse? Could it have been avoided? Why were repairs not made? Why did local governments allow repairs to drag on? Why were repairs not made […]

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“Should Board Members Be Paid?” – News-Press

Q: Is a condominium association permitted to pay the members of the board of directors? Board members spend a lot of time and energy in a thankless job. It only seems fair that they should get some benefit for all the effort. (M.S., via e-mail) A: Section 718.112(2)(a)1 of the Florida Condominium Act states that […]

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