Florida Community Association Manager Practice Exam

True or False: The termination of a condominium changes the corporate status of the association.

1. True

2. False

3. It depends on the circumstances

4. Not enough information

The correct answer is: False

The statement is false because the termination of a condominium does not inherently change the corporate status of the association. When a condominium is terminated, it typically involves the dissolution of the condominium property itself, but the condominium association may still exist as a legal entity if it has not been formally dissolved. The association can continue to operate for the purpose of managing the remaining assets or for the purpose of winding up the business affairs. Therefore, while the physical structure and the legal standing of the condominium as a property may end, the association itself may still maintain its corporate status unless specific actions are taken to dissolve it. Understanding this distinction is crucial for those involved in community association management, as it impacts governance and responsibilities following the termination of a condominium.