The State of Florida provides helpful information intended to assist people considering the purchase of a condominium unit.  The following text is a summary of information provided in the Florida Department of Business Professional Regulation's "Guide to Purchasing a Condominium Unit".

A condominium is a form of real property made of units that are individually owned, and common elements whose ownership is shared by all unit owners. Ownership of the common elements comes with the purchase of a unit and cannot be divided from the unit. Condominiums are usually associated with high-rise buildings.

An owners' association is responsible for operating a condominium. It maintains, repairs and protects the land and facilities such as swimming pools, tennis courts, elevators, boat docks, entertainment areas, etc. The association is run by a board of directors, whose members are elected by unit owners.

If you live in a condominium, you will be expected to follow its rules and restrictions on the use of your unit and common elements. You will be invited, and expected, to participate in the operation of your condominium association.

Here are some questions to ask before you decide to purchase a condominium unit:

• What will be your ownership and voting rights in the association?
• What will be your percentage share of the common expenses?
• What are the restrictions on the use of common eleements and your unit?
• Are there any leases or contracts associated with the condominium association? If so, what are their terms?
• Do you understand all of the provisions of the documents?
• Exactly what items will you be personally responsible for maintaining?
• Are there any restrictions on the selling or renting of units?
• Are there any restrictions on the number of family members or guests who may occupy the unit?

Answers to many of these questions are found in the "condominium documents" that are provided to you during pre-sale activities. These documents include the declaration of condominium, articles of incorporation of the association, bylaws of the association, and Frequently Asked Questions and Answers Sheet. The developer is required by state law to file these documents with the Division of Florida Condominiums, Timeshares and Mobile Homes before they can offer units for sale.

Once you sign a purchase agreement and receive the documents from the developer, you have 15 days in which to cancel your purchase. Read these documents thouroughly before you purchase a condominium unit, and not later than the expiration of the 15-day cancellation period.

If you are purchasing from a private individual rather than a developer, the cancellation period expires three days from the date you sign the purchase agreement.

It is for your protection and to your advantage to carefully read and understand the condominium documents.

To read the State's complete Condominium Purchasing Guide, visit http://www.myflorida.com/dbpr/lsc/documents/purchasing_guide.pdf