Property Ownership
In Florida, a 'condominium conversion' occurs when:
AA single-family home is converted to a rental property
BAn existing rental apartment building is converted to individual condominium ownership✓ Correct
CCommercial property is rezoned for residential use
DAgricultural land is converted to residential development
Explanation
A condominium conversion is the process of converting an existing apartment building (or other multi-unit property) from rental units to individually owned condominium units. Florida's condominium conversion law (F.S. 718.616) requires specific disclosures to existing tenants, a right of first refusal to purchase their unit, and compliance with the Condominium Act.
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