RECREATION LEASE

[raul1934]

Miami Beach, Florida
Raul J. Quiros
6039 Collins Ave
Miami Beach, Fl 33140
(305)864 2590
E-mail [email protected]
Appreciate your advice
At this address is a Condo building with 502 units builded in 1971
The developer on 12/17/1971 executed the declaration of condominium.
On same day the "association" and the developer executed a 99 year lease for the Recreation Areas.
The association and the developer were same persons.
The lease has an escalation clause.(Cost of living index) Also under the lease the association must pay for maintenence, insurance aand taxes.
At this day the Assest value is USD$108,826 and we are paying over USD$1,000,000 per year on rent.
All unit owners are liable to this lease with the property and content.
In case of transfer of unit the new owner must assume obligation under the lease.
Under Florida Status, Title XL, 718.122. Can we claim Unconscionability of the Lease? The lease meet all criteria under this article.
Thanks for your advice and I hope all the facts are clear to undestand
Raul Quiros

 

[HomeGuru]

When you bought the property the lease was already in effect, thus you had knowledge.

 

[raul1934]

Recreation Lease

Thank for your reply
I know was a mistake not to pay attention to all the details
But, It is any legal way based in Florida Status to correct this situation
Thanks again
Raul Quiros

 

[HomeGuru]

Sorry. Next time have an attorney review all the documents prior to closing.