In my opinion, this has always been and will always be their problem. They have not enforced it uniformly like Rosemary Beach did. I think they will ulitmately hand it over to the HOA to handle. Of course, this will come right after they hand over the HOA to the homeowners.
Build-out extensions
- Thread starter scooterbug44
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In my opinion, this has always been and will always be their problem. They have not enforced it uniformly like Rosemary Beach did. I think they will ulitmately hand it over to the HOA to handle. Of course, this will come right after they hand over the HOA to the homeowners.
I believe they already have handed it over. By law they have to after 5 years or 85% have been sold. I believe both have been met. However the buy back is not governed by the HOA it is governed by the real estate contract.
Unfortunately, I know way more about this than I ever wanted to. In 2003 I bought a lot in Rosemary shortly before the build out. I had already designed a previous home in Rosemary which went through the DRB in 2 passes over about 4 weeks and commenced construction 10 days later, because I was also an approved builder.
When I bought this 5th property shortly before its buildout I turned in a full set of plans along with everything I needed to permit. The Town Architect performed a sketch review on the spot and gave me red lined notes for the proposed changes. When the developer found it it was me they immediately removed me from their approved builder/designer list and sent out a letter through Piper Rudnick, LLP saying that they were going to buy back the property under their Covenants under an impending default of the build out legal theory.
They issued their Lis Pendens, we litigated and later they settled by paying my company twice our purchase price. In contrast, in the Rosemary Beach Land Company vs. Sandpiper Construction case, which was running simultaneous, Sandpiper used a different legal defense theory and ultimately lost their case and the lot.
My non-lawyer thoughts: Read the Covenants carefully. In a legal defense, use the definitions section of the Covenants and construe them strictly which is what the Court must do. I found that ambiguities in Restrictive Covenants are construed against the drafter. This is a basic legal principle. In addition, the Covenants attempting to be enforced must be enforced uniformly which can be found during proper discovery.
Last, use an Attorney who is willing to take the case as a test case on contingency. This will provide counter leverage against the party with the deep pockets.
Bottom line, Florida's Courts abhor forfeiture and strictly construe Covenants and Memorandums against the drafter and in favor of a landowner.
That's about all I already know as fact.
As the declarent, they can assign their rights to the HOA. Whether the HOA agrees to pick up the fight is another question.
SmilingJoe, what do you know?
I thought Watercolor and Watersound's Build out provision was controlled by a seperate Memorandum of Agreement vs. a Restrictive Covenant that runs with the Deed like Rosemary. I've seen some Memo's recorded with the buildout left blank which defaulted to a 6 month build out and, others spelled out to a term of 3 or 5 years. As far as I have heard, there were some Deed conveyances that occured without the endorsement of the Memo of Agreement by the Buyer, which would seem to indicate that that lot has no build out provision at all.
Any realtor types out there know if there is something in the Covenants for Watercolor or Watersound that provides for build outs or is it controlled by the seperate Memorandum of Agreement?
I thought Watercolor and Watersound's Build out provision was controlled by a seperate Memorandum of Agreement vs. a Restrictive Covenant that runs with the Deed like Rosemary. I've seen some Memo's recorded with the buildout left blank which defaulted to a 6 month build out and, others spelled out to a term of 3 or 5 years. As far as I have heard, there were some Deed conveyances that occured without the endorsement of the Memo of Agreement by the Buyer, which would seem to indicate that that lot has no build out provision at all.
Any realtor types out there know if there is something in the Covenants for Watercolor or Watersound that provides for build outs or is it controlled by the seperate Memorandum of Agreement?
I thought Watercolor and Watersound's Build out provision was controlled by a seperate Memorandum of Agreement vs. a Restrictive Covenant that runs with the Deed like Rosemary. I've seen some Memo's recorded with the buildout left blank which defaulted to a 6 month build out and, others spelled out to a term of 3 or 5 years. As far as I have heard, there were some Deed conveyances that occured without the endorsement of the Memo of Agreement by the Buyer, which would seem to indicate that that lot has no build out provision at all.
Any realtor types out there know if there is something in the Covenants for Watercolor or Watersound that provides for build outs or is it controlled by the seperate Memorandum of Agreement?
You are correct in that it is a seperate memorandum of agreement. I just don't see JOE really caring about this issue any longer so ultimately they will give it to the HOA. I think that most people on this board agree that once their profit is made, they tend to turn their attention elsewhere.
JOE announced extended build outs in Watersound again this past weekend. They also made the Declaration that it was their privelege or right as Declarant to do so. This was completely inopposite to the claim that JOE doesn't care about the issue. More than likely it is this year that control of the HOA will be granted (encumbered) to the homeowners.
I'd love to hear what FlyForFun has to say about this.
On another note, is there anyone on Sowal that remembers the letter that my firm, JMB, LLC, wrote and mailed to all 400 Rosemary Beach Homeowners just before the Rosemary Beach Land Company turned over the community to the Homeowners? See if you can dig it up and tell us if history shows I was trying to help the Homeowners. Every issue I raised came back to haunt the Homeowners even though I tried to get it Noticed. Does anyone remember when James Bagby took his post and who hired him?
Doesn't matter. Those build out deadlines will never, ever be enforced.