Grand Harbor Community Association, Inc. v. GH Vero Beach Development, LLC
A homeowners' association sued its former developer and developer-appointed directors for breach of the Declaration (failure to fund reserves and failure to pay its deficit-funding share of operating expenses) and breach of fiduciary duty. The Fourth District affirmed summary judgment on the reserve-funding contract claim and the fiduciary duty claim (business judgment rule; no evidence of bad faith or willful misconduct), but reversed as to the claim that the Developer underpaid its deficit-funding obligation and reversed the trial court's standing ruling, while holding recovery is limited to breaches accruing within five years of suit because no statute tolls limitations for HOA claims until turnover.
Key facts
- Grand Harbor Community Association sued its former developer, GH Vero Beach Development, LLC, and developer-appointed directors for breach of the Declaration (failure to fund reserves and failure to pay deficit-funding obligations) and breach of fiduciary duty.
- The trial court granted summary judgment in favor of the developer on all claims; the Fourth District affirmed on the reserve-funding and fiduciary duty claims but reversed on the deficit-funding claim and the trial court's standing ruling.
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Why it matters
This is the leading Fourth District statement that homeowners' associations get no turnover-based tolling analogous to section 718.124, which sharply limits developer-turnover litigation to breaches within the… — full analysis with a trial
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