HomeMy WebLinkAbout0813disapproval and the qrounds therefor. If the Association shall
otherwise disapprove a transfer of awnership of a unit, the matter
shall be disposed of in the following manner:
(a) Sale. If th~ proposed transaction is a sale, and
if the notice of sale given by the unit owner shall so
demand, then within fifteen (15) days after receipt of such
notice and information, the Association shall deliver or
mail to the unit awner an agreement to purchase the unit
concerned by a purchaser approved by the Association who will
purchase and to whom the unit owner must sell the unit upon
the follawing terms: .
(1) The price to be paid shall be the bona fide
price stated in the disapproved contract to sell, and a
judgment of specific performance of the sale may be
entered in any court of competent jursidiction. If a
question arises as to whether or not the sale price is a
bona fide price, the question shall be resolved by
having the price determined by arbitration in accordance
with the then existing rules of the American Arbitration
Association, except that the arbitrators shall be two
appraisers appointed by the American Arbitration
Association who shall base their determination upon the
average of their appraisals of the unit.
(2) The purchase price shall be paid in cash.
(3) The sale shall be closed within thirty (30)
days after the delivery or mailing of the agreement to
purchase, or within ten (10) days after determination of
the sale price if such is by arbitration, whichever is
later.
(4) A certificate of the Association executed by
its President or Vice Pres~ident approving the purchaser
shall be recorded in the public records of St. Lucie
County, Florida, at the expense of the purchaser.
(5) If the Association shall fail to provide a
purchaser upon demand of the unit owner in the manner
provided, or if a purchaser furnished by the Association
shall default in his aqreement to purchase, then
notwithstanding the disapproval, the proposed
transaction shall be deemed to have been approved, and
the Association shall furnish a certificate of approval
as elsewhere provided, which shall be recorded in the
public records of St. Lucie County, Florida, at the
expense of the seller.
(b) Lease. If the proposed transaction is a lease then
within ten (10) days after receipt of the notice of intent to
lease given by the unit owner and accompanying information,
the Association shall deliver or mail to the unit owner a
written statement of its disapproval of the proposed
transaction.
(c) Gifts, 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
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FEE. KOBLEGARD 8c TEEL. P. A.
ATTOFNEYE AT LAW
POST OFFICE BOX 1000
FORT PI[RC[. FLORIOA 394"JO
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