Condo Corruption: the Textbook Breach of Fiduciary Duty

CORAL GABLES, Fla., March 21, 2011 /PRNewswire/ -- The following is a statement by Espinosa Santisteban LLC:

As the 2011 Hurricane Season approaches, homeowners in South Florida will brace themselves in hopes of avoiding another catastrophic hurricane.  For homeowners at Parc Vista Condominium in Miami-Dade, avoiding a hurricane is key to their survival.

Adrian and Beatriz Sanchez were married in 2005 and invested their life savings into purchasing their home. Their honeymoon would soon be followed by a 5-year nightmare. The Sanchez Family's had water intruding through an opening in their roof since Hurricanes Katrina and Wilma in 2005, and the board of directors of Parc Vista has done little to remedy the problem.  Under Florida law the board of directors has the exclusive duty to maintain and repair the common elements (i.e. the roofs), but it hasn't done so.

The Sanchez Family wakes up each day in a virtual swamp.  Adrian is a Special Education Dept. Chair at Southwest Senior High, and Beatriz teaches special education at Archbishop Coleman Carroll.  They earn a modest income, but not nearly enough to pay rent, their mortgage, and association fees.  Parc Vista had insurance during the 2005 Hurricanes, but the board is still trying complying with post-loss obligations under the policy.  Three attorneys, two roofing contractors, and one public adjuster later, the Association's insurance battle still hasn't been resolved, so The Sanchez Family filed a lawsuit on January 18, 2011, and the defendants hired large firms to defend the case.  The Sanchez Family's attorney said: "we are being papered to death by large firms, and we undertook this case on a contingency-fee because our clients couldn't afford to pay our hourly fee. I took this case because I believe in my clients. Mrs. Sanchez suffered two episodes of anaphylactic shock where she stopped breathing due to the mold in her home and was rushed to the emergency room."

The sad thing about The Sanchez Family's predicament is that they may never be able to fix their home.  The attorney pursuing the Association's insurance claim, Merlin Law Group, will take 33% of the total gross recovery.  It may be true that the Florida Legislature has worked to tighten regulation of condos for the last few years, but when you have a condo with a corrupt board of directors, it really doesn't matter what laws congress enacts.  

For more information about The Sanchez Family's case, please contact Daniel A. Espinosa, Esq., at 305.444.7181 or via e-mail at [email protected].

SOURCE Espinosa Santisteban LLC