At Eighty Seven Park, an assignment of a purchase contract is not the same as a transfer of a deeded condominium. Owners planning a resale, trust transfer, estate distribution, or liquidity event should test the proposed transaction against the recorded governing documents, current association procedures, rental rules, and closing calendar before committing to a date.
At Eighty Seven Park Surfside, an oceanfront condominium at 8701 Collins Avenue in the Surfside and Miami Beach area, the first due-diligence question is deceptively simple: What, precisely, is being transferred?
An assignment of a pre-closing purchase agreement differs from the resale of a deeded condominium. The former turns on the executed contract and any developer-consent provisions that remain relevant. The latter requires review of title, the declaration, bylaws, rules, association procedures, financial materials, and the proposed buyer or transferee. Treating both events as “an assignment” can obscure the controlling document and create avoidable timing risk.
The governing document follows the transaction, not the shorthand used to describe it.
This distinction matters when an owner faces probate, divorce, a change in trust planning, a family transfer, or an accelerated need for liquidity. A sophisticated plan begins by identifying the current owner of record, the proposed recipient, the legal instrument to be used, and whether consideration will change hands.
Historical preconstruction marketing for the building described deposits of 20 percent at contract, 20 percent at groundbreaking, and 10 percent at top-off. Those terms illustrate the financial significance a contract assignment once could have carried, but they do not establish a present assignment right.
Any surviving right to assign a developer purchase contract must be found in the original executed agreement, together with its amendments, riders, consent requirements, deadlines, and remedies. If the unit has already closed and title has been recorded, the analysis generally shifts from developer-contract assignment to a transfer of condominium ownership.
Owners should therefore avoid relying on recollection, old marketing language, or terminology used in family correspondence. Florida counsel should review the signed agreement and current title before an executor, trustee, beneficiary, or liquidity-driven seller represents that an assignment is available.
Florida’s Condominium Act, Chapter 718, governs association records, disclosures, transfer procedures, and common-element decisions. For a resale at Eighty Seven Park, the declaration, articles of incorporation, bylaws, and rules should be read together. Those documents determine whether the association must approve a sale, lease, trust transfer, or other change in ownership.
A resale buyer is entitled to condominium materials that include the governing documents, recent financial information, and the annual budget. The review should not be reduced to a signature exercise. It should identify the approval sequence, application requirements, notice provisions, payment obligations, and any conditions that could affect the closing timetable.
The same discipline applies across Surfside’s rarefied residential market. Buyers who may also be considering Arte Surfside or Fendi Château Residences Surfside should not assume that procedures at one property predict those at another. Each condominium’s recorded documents control its transfer framework.
A transfer to a revocable trust, heir, spouse, child, or other family member may feel administrative rather than economic. Legally, however, the outcome depends on how “transfer” is defined in the recorded condominium documents and whether an exception applies to the specific ownership change.
Before preparing or recording a deed, obtain written confirmation from the association or its counsel regarding approval, forms, fees, timing, and account requirements. Estate counsel, condominium counsel, and the title professional should coordinate the ownership sequence, especially when probate authority, trustee powers, or multiple beneficiaries are involved.
This coordination is particularly important when a distribution date is tied to tax planning, a divorce settlement, or the sale of another asset. A private family arrangement does not, by itself, override condominium procedures. Nor should an owner assume that adding a spouse or moving title into a trust is exempt without reviewing the governing language.
An association may charge a transfer fee only when its governing documents require approval of the sale, lease, mortgage, or other transfer and expressly authorize the fee. Florida law generally caps an authorized transfer fee at $150 per applicant. Spouses, and a parent with a dependent child, are generally treated as one applicant.
The statutory cap is not a complete closing-cost estimate. The transaction file should separately identify association account balances and any other properly documented sums relevant to closing. Written confirmation is preferable to assumptions based on a prior transaction because governing materials and account conditions must be checked for the current transfer.
The building’s stated rental policy allows leasing after purchase, with a six-month minimum and no more than two rentals per year. An executor, trustee, or owner should verify the current limits directly against association documents before relying on rental income.
If the six-month minimum remains in force, nightly, weekly, and other sub-six-month occupancy would fall outside that framework. This can narrow the use of short-term rental income as a carrying-cost strategy during probate, divorce, or a delayed sale. The practical question is not merely whether leasing is allowed, but whether the permitted term, frequency, approval process, and calendar align with the owner’s liquidity horizon.
For an investment owner, this review should occur before setting an asking price or promising vacant possession. Oceanfront prestige does not replace a precise analysis of use restrictions and timing.
The association’s official records include current insurance policies, management agreements, association contracts, accounting records, and financial reports. They also include bills of sale or transfer documents for property owned by the association, helping distinguish association assets from property conveyed with an individual residence.
A disciplined resale or estate-distribution file should include:
Unit owners generally have inspection rights, but information collected by an association while approving another person’s lease, sale, or transfer is exempt from owner inspection. An owner can review the published rules and procedures but generally cannot inspect another applicant’s screening or background materials. Prior approvals are therefore a weak substitute for transaction-specific confirmation.
A transfer review should also consider the governance environment the incoming owner will inherit. Material alterations or substantial additions to common elements follow the approval threshold stated in the declaration. If the declaration is silent, the statutory voting threshold under Chapter 718 applies.
This issue is distinct from transfer approval, yet it belongs in a serious ownership review because common-element decisions may affect the property’s financial and practical context. The same document-first approach applies when evaluating nearby ultra-premium choices such as The Surf Club Four Seasons Surfside. Similar geography does not create identical governance rights.
The safest calendar works backward from documented requirements. First, classify the transaction. Next, confirm title and authority to sign. Then obtain the current governing documents, financial package, insurance information, account status, rental rules, application materials, fees, and written association guidance. Only after those items are understood should the parties lock an estate-distribution or sale-closing date.
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Begin a quiet conversationNo. Contract assignment is governed by the executed purchase agreement, while a deeded resale requires title and condominium-document review.
The file should include the declaration, articles, bylaws, rules, recent financial information, annual budget, insurance information, and transfer procedures.
Yes. The answer depends on how the recorded condominium documents define a transfer and whether a relevant exception applies.
No. Approval requirements depend on the governing documents and the structure of the proposed ownership change.
Florida law generally caps an authorized fee at $150 per applicant, with spouses and a parent and dependent child generally treated as one applicant.
No. Its governing documents must require approval of the transfer and expressly authorize the fee.
The policy is publicly described as a six-month minimum with no more than two rentals per year and leasing allowed after purchase. Current association documents must confirm the controlling terms.
Generally no. Information obtained by the association during approval of another lease, sale, or unit transfer is exempt from owner inspection.
They form part of the association due-diligence file and help a buyer or estate evaluate the condominium’s current financial and governance context.
Set it after confirming authority to transfer, title, association approval steps, fees, account status, rental rules, and the expected review timeline.
