Legal Question in Real Estate Law in Florida
Real Estate
Can an LLC buy a unit in a condominium ?
3 Answers from Attorneys
Re: Real Estate
The quick answer to this question is yes, but. However, many Condominiums restrict use of condos to residential purposes. Some may restrict the form of ownership. Generally, a prospective purchaser must be approved by the Condominium Board. Additional restrictions on lease terms and length are also common. A review of the Condominium documents would be required to answer the question accurately.
Re: Real Estate
yes
Re: Real Estate
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Generally, the answer is yes. An interview of the members may be required by the Association in order to be approved as an owner. Some Associations may place further restrictions on ownership which a careful reading of the condominium documents would reveal.
Scott R. Jay, Esq.