Condo Q&A

Can condo association force capital contribution by new owner?

Written by CondoAssociation.com | Fri, May 21, 2021 @ 07:42 PM

Can a condo association require when selling a unit that the buyer must pay a capital contribution at closing of $1500 as a non-refundable contribution paid by the buyer going into a special account to fund capital improvements and/or repairs. This is not in our docs but could be added to the sales application. Is anyone doing this?  Florida