(1) The date when cooperative existence shall commence is upon commencement of corporate existence of the cooperative association as provided in s. 607.0203. The cooperative documents must be recorded in the county in which the cooperative is located before property may be conveyed or transferred to the cooperative. All persons who have any record interest in any mortgage encumbering the interest in the land being submitted to cooperative ownership must either join in the execution of the cooperative documents or execute, with the requirements for deed, and record, a consent to the cooperative documents or an agreement subordinating their mortgage interest to the cooperative documents. Upon creation of a cooperative, the developer or association shall file the recording information with the division within 30 working days on a form prescribed by the division.
(2) All provisions of the cooperative documents are enforceable equitable servitudes, run with the land, and are effective until the cooperative is terminated.
History.—s. 11, ch. 86-175; s. 188, ch. 90-179; s. 41, ch. 95-274; s. 9, ch. 98-322; s. 6, ch. 99-382.
Structure Florida Statutes
Title XL - Real and Personal Property
Part I - General Provisions (Ss. 719.101-719.131)
719.1035 - Creation of cooperatives.
719.105 - Cooperative parcels; appurtenances; possession and enjoyment.
719.1055 - Amendment of cooperative documents; alteration and acquisition of property.
719.106 - Bylaws; cooperative ownership.
719.1065 - Power of attorney; compliance with chapter.
719.107 - Common expenses; assessment.
719.109 - Right of owners to peaceably assemble.
719.110 - Limitation on actions by association.
719.112 - Unconscionability of certain leases; rebuttable presumption.
719.115 - Limitation of liability.
719.1255 - Alternative resolution of disputes.
719.127 - Receivership notification.