Legal Question in Real Estate Law in Florida

seller demands reimbursment for condominimum reserve account

We are purchasing a condominimum unit in Florida. Closing will done by Title company on 2/28/03. We have used a standard Contract for Sale and Purchase from FL Association of Reatlors and the FL Bar. Contract was signed on 1/17/03. On 2/4 buyer told us that he wants reimbursment at the closing for so called condominimum reserve account that was part of the maintenance payments made over the years that he owned the unit. There was nothing mentioned regarding this prior to 2/4. Further more there are no provisions in the contract we have signed. Are we liable for this?

Thank you for your help.


Asked on 2/03/03, 8:18 am

3 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: seller demands reimbursment for condominimum reserve account

Apparently the seller realized he made an error. You are not obligated to agree to a contract change.

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Answered on 2/03/03, 11:01 pm
Walter LeVine Walter D. LeVine, Esq.

Re: seller demands reimbursment for condominimum reserve account

If this gets credited to your account, it is a proper adjustment. If it was non-transferable to you and represented a extra deposit, it is not a proper adjustment.

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Answered on 2/07/03, 10:55 am
Bernard J. Berkowitz Berkowitz & Raiken

Re: seller demands reimbursment for condominimum reserve account

Contact the condo association and ask what fees are transferrable. Also, the title company should be able to tell you what is usual and customary.

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Answered on 2/03/03, 10:06 am


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