The purpose of this post is to provide a key update on the Corporate Transparency Act (CTA) that may impact your compliance plans. Yesterday, a federal court in Texas issued an order in Texas Top Cop Shop, Inc. v. Garland enjoining enforcement of the CTA's Reporting Rule nationwide. The court ruled that the CTA exceeds […]
Board Certification Update, "The Convo Association," and More
The Corporate Transparency Act (CTA) was passed with the goal of combating illicit activities like money laundering and terrorism financing. Under the CTA, many entities—including community associations such as homeowners associations (HOAs), condominiums, and housing cooperatives—would be required to submit detailed reports on their “beneficial owners” to the federal government. These reporting requirements, while aimed […]
The introduction of new reserve funding requirements for condominiums in Florida has sparked significant debate, particularly concerning whether these requirements can apply retroactively to condominiums with existing conflicting language in their governing documents. This issue hinges on several legal interpretations and past arbitration rulings. Kaufman Language The "Kaufman" language refers to a provision in a […]
Recent legislative changes in Florida, specifically House Bill 1021 and House Bill 1203, have introduced new educational requirements for Board Members, effective July 1, 2024. The Florida Department of Business and Professional Regulation (DBPR) has developed a 4-hour Board Member Certification Program designed to help Board Members understand their responsibilities under the new statutory requirements. […]
In recent legislative sessions, Florida lawmakers have passed significant legislation affecting homeowners' associations (HOAs). House Bills 1203, 59, and 293 introduce various changes aimed at enhancing transparency, accountability, and homeowner rights within community associations. This post will focus solely on HB 1203 to outline the key changes of which our clients must be aware: As […]
Negotiating the lease for your first commercial space? Here are 3 tips from our seasoned attorneys! We have the privilege of representing many first-time business owners pursuing a dream. Our clients include dentists opening up their own practice after years working in corporate and even engineers who are tired of the grind and looking to […]
In representing hundreds of small business owners and non-profits (including homeowners associations and condominium associations), our Firm has been asked several times about how the Corporate Transparency Act ("CTA") would affect their business and impact their own individual privacy. When enacted, the CTA required certain entities to disclose information about their "beneficial owners" to the […]
The landscape for condominium home ownership is undergoing significant changes. Recent reports from Redfin indicate a stark contrast between the national trend of rising condo prices and the reality in Florida (https://fortune.com/2024/02/27/florida-condo-prices-dropping-insurance-hoa/). Condominium sales prices in Jacksonville have seen a nearly 7% decrease year over year, while Miami experienced an almost 3% decline. The culprit […]
