Tara Manatee, Inc. v. Fairway Gardens at Tara Condominiums Association, Inc.
District Court of Appeal of Florida
870 So. 2d 32 (2003)
Relevant factsFree
Florida statute excused condominium developer Tara Manatee (plaintiff) from paying common expenses on unsold units during the initial sales period but required funding any operations deficit including deferred maintenance reserves; the homeowners association (defendant) argued this required funding reserves even for units not yet built, and the trial court agreed, but the developer sought a declaratory judgment it need only fund reserves for constructed units.
IssueFree
Whether a real estate developer is required to fund deferred maintenance reserves for unbuilt units during the initial sales phase of a development in order to be excused from common expenses.