Tara Manatee, Inc. v. Fairway Gardens at Tara Condominiums Association, Inc.
District Court of Appeal of Florida
870 So. 2d 32 (2003)
Tara Manatee, Inc. (the developer) (plaintiff) developed a condominium complex that was operated by Fairway Gardens at Tara Condominiums Association, Inc. (the association) (defendant). Pursuant to Florida statute, a developer was not required to pay common expenses on condominium units during the initial sales period, because most units were unsold during that period and thus were not utilizing the association’s resources. However, during such period, a developer was required to fund any operations deficit, including deferred maintenance reserves. The association claimed that under this statute the developer was required to fund maintenance reserves for condominiums that were not yet built. The developer acknowledged that it was required to fund maintenance reserves for constructed units but brought suit seeking a declaratory judgment that it was not required to fund reserves for unbuilt units. Each party filed a motion for summary judgment. The trial court ruled in favor of the association. The developer appealed.
Rule of Law
Holding and Reasoning (Fulmer, J.)
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