For centuries, the law has been clear that the person filing a lawsuit must have the right to bring that action when it is filed. It is not sufficient to acquire the right to file the suit at a later date. To have the right to foreclose a mortgage in Florida, a person or entity must prove two things:
A question often asked by community association managers, especially those new to the business, is what is a fiduciary duty and do I owe that duty to the association(s) I work for? As per Section 718.111 (a), Florida Statutes, the officers and directors of a condominium association owe a fiduciary duty to their unit owners. Fla. Stat. § 718.111 (a) (2013). However, the statute does not specify whether a community association manager or management company contracted by the board, owes a fiduciary duty to the association as well. A fiduciary duty is a legal duty to act solely in another party's interests. Parties owing this duty are called fiduciaries. The individuals to whom they owe a duty are called principals.