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If an HOA w/an existing board that wants to resign, fails to…

Customer Question
If an HOA w/an...

If an HOA w/an existing board that wants to resign, fails to have anyone run for the board, the HOA then can petition for a receivership. What does a Licensed Community Association Manager have to do to file with the Secretary of State to become the receiver of that HOA?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state the association is in?

Florida (central)

Lawyer's Assistant: Has any paperwork been filed?

No, the annual meeting is coming up and the existing board wants to vacate. There have been no "Intent to Run" letters returned. Assuming we cannot get anyone to volunteer, the management company may have to file to have the HOA filed for receivership. I have a license and am interested in becoming a Conservator for this HOA.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Not to my knowledge. Basically, I just need to know what to do to be considered for an HOA filing for receivership.

Submitted: 8 months ago.Category: Real Estate Law
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Answered in 9 minutes by:
12/1/2017
Real Estate Lawyer: KLAW, Arbitrator replied 8 months ago
KLAW
KLAW, Arbitrator
Category: Real Estate Law
Satisfied Customers: 2,480
Experience: I have over 20 years of experience in commercial real estate law, finance, consumer credit, landlord tenant, and business law.
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In Florida, a receiver can be appointed to conduct the affairs of the association for condos and homeowners associations when the board can't muster a quorum, such as when it can't get three people to serve in a five-person board. Any owner can make a demand and have a meeting to either elect or appoint a board, and after a certain number of days, the owner has a right to ask a court to appoint a receiver.However, the petition to circuit court must be made by a member of the association.Here is a link to the statute. http://leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0700-0799/0720/Sections/0720.3053.htmlI hope this clarifies. Please don’t forget to rate the question with stars so that I will receive credit and payment for assisting you with your question
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Customer reply replied 8 months ago
I want to know how to qualify in the state to be appointed a receiver. I already know when receivership happens and that the member of the HOA must file. I want to be available to be appointed.
Real Estate Lawyer: Law Educator, Esq., Lawyer replied 8 months ago
Law Educator, Esq.
Category: Real Estate Law
Satisfied Customers: 126,721
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

I am a DIFFERENT CONTRIBUTOR, as your previous contributor left.

Not just any resident of the HOA can be a receiver in Florida. Courts appoint receivers from qualified individuals who are qualified receivers. There is no right of anyone to request to be appointed as receiver, they are selected by the court from court qualified receivers. These are people who have an inherent understanding of the law, is a good business manager, and is often a skilled turnaround consultant and is generally knowledgeable in the area of property management. the court looks for receivers who are: A qualified, capable professional with a proven track record in the real estate industry, Someone who understands the legal process, Someone who understands all sides of the process and the asset challenges.

So a member of the HOA cannot just file to be a receiver. If you want to be a receiver, you can apply to court to have your name placed on their list for appointment and have to present proof of your credentials in real estate, business law, accounting or other professional credentials to prove you are qualified to handle the asset of the entity in receivership. Also, you would have to be impartial, meaning you could not be appointed to a receivership where you have a vested interest.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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