HomeMy WebLinkAbout0496 instrument evidencing the owner's title.
(4) Failure to Give Notice. If the above required
notice to the Association is not given, then at any time
after receiving knowledge of a transfer or event
transferring ownership or possession of a unit, the
Association at its election and without notice, may -
approve or disapprove the transaction or ownership. If
the Association disapproves the transaction or
ownership, the Association shall proceed as if it has
received the required notice on the date of such
disapproval.
(5) Application Form. The Association is vested
with the authority to prescribe an application form such
as may require-specific personal, social, financial and
other data relating to tt?e intended purchaser or lessee,
or as relates to the "new owner" in the case of a
transfer by gift, devise or inheritance, as may
reasonably be required by the Association in order to
enable the Association to responsibly investigate the
intended purchaser, lessee, or "new owner" within the
time limits extended to the Association for that purpose
as hereinafter set forth and which application shall be
completed and submitted to the Association along with
and as an integral part of the notice. A reasonable fee
not to exceed fifty dollars ($50.00) may be charged to
the transferor of the unit for the purpose of defraying
the cost of investigation and the costs associated with
granting approval, changing books and records and other
matters associated with a transfer.
(b) Certificate of Approval.
(1) Sale. If the proposed transaction is a sale,
then within fifteen (15) days after receipt of such
notice and information,-the Association must either
approve or disapprove the proposed transaction. Such
~I approval or disapproval shall be transmitted to the
seller in writing within the aforesaid fifteen (15) day
period, and failure to do so shall constitute approval
of the sale. If approved, the approval shall be stated
in a certificate executed by the President or Vice
$ President of the Association, which shall be recorded in
the public record of St. Lucie County, Florida, at the
expense of the seller.
(2) Lease. If the proposed transaction is a
lease, then within ten (10) days after receipt of such
notice and information, the Association must either
approve or disapprove the proposed transaction. Such
approval or disapproval shall be transmitted to the
lessor in writing within the aforesaid ten (10) day
period and failure to do so shall constitute approval of
the lease. If approved, the approval shall be stated in
a certificate executed by the President or Vice
President of the Association which, shall be delivered
to the lessee. The Association shall not approve any
n lease for a term of less than three (3) months..
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(3) Gift, Devise or Inheritance; Other Transfers.
If the unit owner giving notice has acquired his title
by gift, devise or inheritance or in any other manner,
then within fifteen (15) days after receipt of such
notice and information, the Association must either
u approve or disapprove the continuance of the unit
DC-15
(ern cc~~ n
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