Bulk buyer law spurs Wall Street interest

From The Real Deal

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Almost three months after Gov. Charlie Crist signed the Distressed Condominium Relief Act, the South Florida real estate market could see a huge rush of large-scale deals, among whose provisions removed frequently problematic "successive developer liability" for would-be bulk buyers.

The law was signed June 1 and took effect July 1. It notably gave condo associations the right to demand delinquent renters pay rent directly to the association, a provision that has been very successful so far.