Neither of these preservation methods requires a membership vote. An alternative way is to work with legal counsel to record a notice containing a Statement of Marketable Title Action and meeting the additional statutory requirements found in Section 712.06, Florida Statutes. The easiest way is to work with legal counsel to record a summary preservation notice, pursuant to Section 720.3032, Florida Statutes. There are several ways for homeowners’ associations to preserve their covenants from MRTA extinguishment. If done each year, it is less likely that a community will miss this important deadline. Pursuant to Section 720.303(2)(e), Florida Statutes, homeowners’ association boards are required to consider the desirability of preserving the community covenants each year at the first board meeting following the organizational meeting. If that date is unknown, then a community should plan to preserve the covenants within thirty (30) years of the date that the original community declaration of covenants was recorded. Unfortunately, aged homeowners’ association covenants are amongst the interests that can be extinguished by MRTA, and preventing such extinguishment is a very important responsibility for homeowners’ association directors.Īlthough determining timeframes and exceptions under MRTA is nuanced and technical, as a broad oversimplification, a homeowners’ association should plan to preserve its covenants within thirty (30) years of the date that the developer started lot sales after recording the community declaration. The Marketable Record Title Act’s (MRTA) purpose is to extinguish old interests and use restrictions on lands and to allow for land sales to be completed more easily and with less expense.
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