Coincidentally, I had lunch today with a golf buddy who’s a lawyer that practices in commercial real estate. He talked at length about the FL ‘statute of repose.’ The contractor lobby in FL is very strong, apparently. This protective statute - which I thought he said was 10-years - is equally strong. Apparently, there are some exceptions that could theoretically extend that 10-year number perhaps a few years. But 30-years (or more) like it is here? No way.
Unless the plaintiff’s lawyers can find a way to rope the city/county into some liability exposure, there are no deep pockets to mine here. As you say, the insurance coverage is going to be limited and fixed and the association doesn’t have any assets to speak of. The big payday some may be hoping for is likely never going to come...except for the lawyers, who always find a way to get paid.
The land will be sold .
The only asset left .