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If the declaration provides that a condominium is subject to any development rights,
the public offering statement must disclose, in addition to the information required
by § 34-36.1-4.03:
The maximum number of units, and the maximum number of units per acre, that may be
created;
A statement of how many or what percentage of the units which may be created will
be restricted exclusively to residential use, or a statement that no representations
are made regarding use restrictions;
If any of the units that may be build within real estate subject to development rights
are not to be restricted exclusively to residential use, a statement, with respect
to each portion of that real estate, of the maximum percentage of the real estate
areas, and the maximum percentage of the floor areas of all units that may be created
therein, that are not restricted exclusively to residential use;
A brief narrative description of any development rights reserved by a declarant and
of any conditions relating to or limitations upon the exercise of development rights;
A statement of the maximum extent to which each unit’s allocated interests may be
changed by the exercise of any development right described in subdivision (3);
A statement of the extent to which any buildings or other improvements that may be
erected pursuant to any development right in any part of the condominium will be compatible
with existing buildings and improvements in the condominium in terms of architectural
style, quality of construction, and size, or a statement that no assurances are made
in those regards;
General descriptions of all other improvements that may be made and limited common
elements that may be created within any part of the condominium pursuant to any development
right reserved by the declarant, or a statement that no assurances are made in that
regard;
A statement of any limitations as to the locations of any building or other improvement
that may be made within any part of the condominium pursuant to any development right
reserved by the declarant, or a statement that no assurances are made in that regard;
A statement that any limited common elements created pursuant to any development right
reserved by the declarant will be of the same general types and sizes as the limited
common elements within other parts of the condominium, or a statement of the types
and sizes planned, or a statement that no assurances are made in that regard;
A statement that the proportion of limited common elements to units created pursuant
to any development right reserved by the declarant will be approximately equal to
the proportion existing within other parts of the condominium, or a statement of any
other assurances in that regard, or a statement that no assurances are made in that
regard;
A statement that all restrictions in the declaration affecting use, occupancy, and
alienation of units will apply to any units created pursuant to any development right
reserved by the declarant, or a statement of any differentiations that may be made
as to those units, or a statement that no assurances are made in that regard; and
A statement of the extent to which any assurances made pursuant to this section apply
or do not apply in the event that any development right is not exercised by the declarant.
Synced from the Florida Legislature’s official site. Verify the current version before citing.
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Reference only. Not legal advice. Verify current text at the official state legislature website before citing. Printed from Common Elements (August 18, 2026).
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