All summer they’ve been leaving, one by one, sometimes in hushed deals shielded from public record. The Polish couple in unit 303. The 66-year-old in 202, who thought his little condo at Boynton Beach’s Via Lugano would be the last home he ever bought.
By July, even the lone homeowner representative on the condominium board had sold out, stranding the remaining 80 owners at the Congress Avenue condo complex with no voice against a corporation 280 units strong and gaining.
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About the law
A 2007 change in Florida law made it easier for bulk buyers to take over a condominium.
When an entity owns, or is close to owning, a majority of units, it can file a plan to terminate the condominium. It needs 80 percent of the unit owners to vote in favor of the termination with not more than 10 percent dissenting.
If approved, owners can be forced to sell at market value or get a share in the apartment complex.