When the Federal Reserve requires banks to hold a certain level of reserves, it is said to be implementing mandatory reserves. The purpose of mandatory reserves is to ensure that banks have enough cash on hand to meet customer withdrawals and other obligations. Banks are required to hold a certain percentage of their deposits in […]
When homeowner Associations are formed, there’s one of two choices to consider: 1) The Association will operate from an “in-house” perspective where the Owners/Members, through a Board of Directors, will volunteer their time to oversee the maintenance and enforcement of rules in the community. However, since Members of the Board of Directors usually have other jobs, […]
When you purchase a home in an HOA, you will be given a lot of documents to sign. Some of these documents will be the sale contracts, while others will be documents that represent that you received the Governing Documents for the HOA itself. You must take the time to read and understand all of […]
What is Duty to Disclose? Under Florida law, a seller is not required to provide a buyer a property disclosure form, however, realtors along with their sellers must notify buyers of any significant property defects that the seller is aware of and may not be easily visible to the buyer, which materially affect the residential real […]
Living in a space controlled by a landlord means that you are at the mercy of the ability of that landlord to maintain the property. At least this is true to some extent. However, there are laws that apply to landlord-tenant relationships that must be followed as well. If you are a tenant living in […]
Is there an HOA in your community? Do you pay recurring fees to the Association? Does the HOA maintain your neighborhood’s common areas, enforce neighborhood rules, and make sure maintenance is regularly completed? It’s important to understand what your HOA does to ensure you have the right type of insurance. Keep reading to learn what […]
Contracts are legally binding documents that are typically signed and agreed upon by two parties or more. Unfortunately, these legally binding documents aren’t always honored. If either party who agreed to the contract decides to or cannot fulfill their end of the bargain, there are likely to be legal repercussions involved. In case of a […]
While it might seem like a mundane piece of communication that comes out annually from a homeowner’s Association, or HOA, audit letters are a required piece of public information that highlights what an HOA has been doing with all of its fees and members’ funds each year. Unlike public companies, HOAs generally don’t need to […]
While property damage is something no landlord wants, it’s often inevitable since no amount of background check will ever determine how tenants will treat your property. Typical wear and tear are understandable. However, holes in the wall, broken doors, windows, etc., are beyond that. Here’s how to handle damage left by renters, including searching for […]
Condos Are a Popular Choice in Florida The State of Florida has quite a few condos as they have proven to be a popular choice in the Sunshine State. Thus, the practice of Florida condo law is something that many lawyers at the Ferrer Law Group specialize in. They know that they can help a […]
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