We recently purchased a condo in FL. While we received the declaration of the condo and the By Laws, we did not receive the rules and regulations. Upon moving in, the board provided another set of rules and regulations. While they don't appear to be a problem, there's quite a few of them. Are these equally valid as the by laws?
Many time the rules anf regs are updated to reflect new rules and regulations. A common change is the restriction of rentals and/or the number of times a unit may be rented and the duration. By laws differ from the R & R as they are the foundation, or incorporating documents of the association.
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You should have received the following docs either before or after you signed the purchase agreement and you would have had 3 days to review (15 days for new condominiums) same giving you an opportunity to rescind your purchase within that 3 day review period:
1. Declaration of Condominium;
2. Articles of Incorporation for the Condominium Association;
3. Bylaws for the Condomiumn Association;
4. Rules of the Association;
5. A copy of the most recent year-end financial statement; and
6. Frequently Asked Questions and Answers document (required by condos with 20 or more units).
This is known as the Condominium Act (Chapter 718) of the Florida Statutes.
Bylaws set up the condo association and how they run, operate and manage the condo association. The rules and regulations are for the individual home owners and how they need to behave. What you can or cant do. The bylaws may have a paragraph or chapter that state the rules when the condo was set up. The bylaws also tell you what you own, what you dont, what is common and who is responsible for siding, roof, doors, window and interiors usually known as sheetrock in. Good luck mike.
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