Your Rights in House / Condo Deposit Refund / Recovery Cases.
Under different state and federal laws you have certain rights. If the developer fails to advise you of some of these rights or misinforms you regarding your rights you may be able to have your deposit returned.
Many of these rights are contained under the Interstate Land Sales Full Disclosure Act ("Act"). There have been several cases in Florida regarding this Federal Act. The most significant of which is the 1990 Florida Supreme Court case of Samara Development Corp v. Marlow which held that a contract limiting condominium unit purchaser's remedy to recovery of deposit or specific performance upon default by developer created illusory obligation to complete construction within two years, and, thus, Interstate Land Sales Full Disclosure Act governed sale.
One of the exemptions to the provisions of the Act, is that the contract must unconditionally obligate the developer to complete construction within two years and must not limit purchaser's remedies of specific performance or damages. If the developer is relying on this exemption to the Act , and fails to unconditionally guarantee completion of construction within two (2) years of you signing the contract, then the developer has failed to meet the requirements of the Act and is responsible for damages to you including possible full refund of your deposit and the payment of your attorneys' fees.
There are also many other exemptions that the developers try to use in order to avoid the Act. However, because of the experience and hard work of the Florida Property Rights Law Firm, sometimes we able to determine that the developer legally is not able to use any of the exemptions that they claim. This results in the client potentially obtaining a refund of their deposit or damages from the developer. Additionally, the developer may be responsible for your attorneys' fees and taxable costs.
Lastly, a factor that is important to clients with deposit recovery / refund cases, is the fact that the Interstate Land Sales Full Disclosure Act is intended to protect the public and Act should be liberally construed in favor of the public and not the developers.
If you have questions regarding a Florida house / condo deposit recovery / refund case call Florida attorney Greg Stoner for answers. Attorney Stoner always uses his best efforts to help his clients in house / condo deposit recovery / refund cases.
(407) 843-4900
Fax (407) 712-7301
