01-10-2008, 05:00 AM
In the 1960's and '70's Florida was heavily impacted by out-of-state speculation in real estate. The Florida legislature responded with a law requiring (as I recall) residential properties to be owner occupied for a minimum of six months prior to resell.
I don't know if this tactic was defeated in court or not. I am aware of it because an aunt and uncle retired to Florida at that time. My uncle died of a heart attack a week later and my poor aunt was forced to stay in their retirement home for a half year before she
could put it on the market and return to Connecticut to her family and friends. I was down there helping her with the situation.
I thought it a practical strategy to deal with outside speculation.
I don't know if this tactic was defeated in court or not. I am aware of it because an aunt and uncle retired to Florida at that time. My uncle died of a heart attack a week later and my poor aunt was forced to stay in their retirement home for a half year before she
could put it on the market and return to Connecticut to her family and friends. I was down there helping her with the situation.
I thought it a practical strategy to deal with outside speculation.
Assume the best and ask questions.
Punaweb moderator
Punaweb moderator