– The plan of termination must be in writing according to Florida Statutes.
– The plan must identify the termination trustee, including their name, address, and affirmative powers.
– The plan must include the date after which it is void if not recorded, the interests of unit owners, sale terms if property is to be sold, and interests in insurance or condemnation proceeds. – The plan of termination for a condominium must identify the units that will survive and remain in the condominium form of ownership.
– The title to surviving units and common elements must remain in the public records and not be vested in the termination trustee.
– A plan of conditional termination can be created in anticipation of future events that would require termination, with specified conditions for termination.
– In a conditional plan, title to the condominium property only vests in the termination trustee when the conditions for termination are satisfied and recorded in the public records.
https://www.jimersonfirm.com/blog/2014/04/terminating-condominiums-according-florida-condominium-act-part-iii/
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