"...what do the individual owners have to do?" my answer, Sunny is to find a competent attorney. There is an office affiliated with a title company I often use who are located right here on SOBE (in the South Point area) which specializes in real estate matters among other things. Contact me and I will gladly provide you with their name/contact information.

If you fear this is potentially imminent, seek competent legal advise ASAP. You may also contact the Ombudsman in Tallahassee for more information on wheather there is a resevership situation with your building. If they can't tell you, they should be able to point you in the right direction (of course, an attorney can also look this up for you).

All the best.

We will be seeing more and more of that happening and it depends on what shut down means. If even just the water is shut off then nobody is allowed to live there. If the property has an elevator and the premits are not current, then you will not be allowed to use the elevator, etc.

Associations in Florida are under a great deal of stress right now and the Florida Legistature when home without passing any of the legistation designed to help condo associations in this past session. So associations in Florida going bankrupt may become all too common in the near furtur.