My condo is in Florida. It is now under new management. The unit owners have received a limited proxy to sign to approve new amendments that are necessary to provide the association to approve sale transactions of our units. One of the new requirements is that the association will require the prospective purchaser to pre-pay up to one year's worth of assessments which shall be held, interest-free, by the association and applied to the owner's assessments as they become due and payable. How will they know in the future how many assessments they will need, and therefore, need to charge. Is this a new law?
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