REMINDER TO HOMEOWNERS ASSOCIATIONS: PRESERVATION OF COVENANTS
Updated: Jan 14, 2019
(not applicable to condominium associations)
Florida Statute Chapter 712 (also known as The Marketable Record Title Act) provides that the covenants and restrictions set forth in a homeowners association=s governing documents expire thirty years from the effective date of each lot=s root of title, unless the association takes the necessary steps to preserve the covenants prior to expiration date. Failure to undertake the preservation process can result in the Association being unable to enforce the covenants and restrictions, including the right to collect maintenance assessments.
It can be very difficult and expensive for an association to determine each lot=s “root of title” and the potential date for expiration of the covenants and restrictions as to each lot. Thus, the Board of Director=s should choose to preserve the covenants as to all lots by undertaking the preservation process within thirty years from the date the original Declaration was recorded.
Florida Statute Section 720.303(2)(e) now requires that the Directors, at the first Board of Director meeting following the annual meeting (excluding the organizational meeting) consider whether to preserve the covenants and restrictions and prevent them from extinguishment under Florida Statute Chapter 712 and authorize and direct the appropriate officer to execute such notice in conformance with the requirements of § 720.3032.
If you would like the firm to assist you in the preservation process, please check the date when your Declaration was recorded. If the recording is approaching thirty years, please let us know if you would like us to prepare the appropriate documents.
If you have any questions concerning the date your Declaration was originally recorded or about the preservation process, then please do not hesitate to call us.