Distressed Condo Relief Act

Florida Distressed Condo Relief Act

The "Distressed Condo Relief Act" (DCRA) in SB 1196 was put in place to encourage investors to buy unsold developer inventory. This should help stabilize the condo market. It also protects the lender if the developer defaults.

If the provision becomes law it will only apply to purchases that take place before the law sunsets on July 1, 2012.

Here is a link to SB 1196



http://flsenate.gov/data/sessions/2010/senate/bills/billtext/pdf/s1
96er.pdf

Sincerely,
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com