Question

The disclosure requirements for the sale of condos are governed by which statute?

1) Condominium Act
2) Florida Statute 718
3) Seller's Disclosure Act
4) Real Estate Act

Answer 1

The disclosure requirements for the sale of condos are governed by the Condominium Act and Florida Statute 718.

Step-by-step explanation:

The disclosure requirements for the sale of condos are governed by the Condominium Act. The Condominium Act is a specific law that sets out the regulations and requirements for the sale of condominiums. It covers various aspects such as the disclosure of information about the condominium's financial condition, association rules, and potential risks or liabilities.

In the context of Florida, the Florida Statute 718 is also relevant to the sale of condos. This statute specifically deals with the governance of condominiums in Florida, including provisions related to the disclosure requirements.

While there may be other acts or statutes that touch upon the sale of condos, the Condominium Act and Florida Statute 718 are the primary legal frameworks governing the disclosure requirements in most cases.