Are Floridians still being forced to sell their homes at huge losses?
October 14, 2015
Even with new legislation, Florida condo owners might not be protected
When the Florida legislature amended a property law to protect condo owners from being forced out of their units by bulk buyers and developers, at huge losses, many breathed a sigh of relief. But by the time the governor signed the legislation into law, bulk buyers amended their condominium declarations to evade the new law. Following up on her previous investigation in this America Tonight excerpt, Sheila MacVicar returns to Florida to examine whether the new legislation will protect residents of Grand Oasis II, a complex near Tampa where most units are owned by a Texas real estate tycoon.