Tag: industry-standards
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Understanding Condo Insurance Rules in Florida
– The Florida Statutes control property insurance requirements for condo associations and unit owners, regardless of what is in the condo’s declaration. – Adequate property insurance must be based on the replacement cost of the property, determined by an independent insurance appraisal performed at least once every 36 months. – The association’s board may determine…
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What Florida Law Says About Banks’ Responsibilities in Underwriting and Loan Processing
– Claims against the original lender for not performing like a reasonable and prudent bank can be expected to perform in the administration of a loan are unsustainable in Florida law. – There is no tort duty for banks to process loans competently in Florida. – Four elements are necessary to sustain a negligence claim…
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Understanding Contractor Negligence in Florida Construction Problems
1. Construction defects in Florida can cause water leaks, mold intrusion, and disruptions to everyday life. 2. Typical sources of water intrusion include roofs, windows, sealant failures, stucco failures, and balconies. 3. Negligence is one possible cause of action that a victim of construction defects can assert against contractors in Florida. 4. To prove negligence…