Quote:
Originally Posted by Papa_lecki
I think the home owner has the liability. The CDD is just the collection vehicle, they collect from the debtor (homeowner) and pay the debtee (the holder of the bind investment).
If a homeowner defaults on their bond, the CDD downs pay it, the next owner of the house does.
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Mr. CoachKandSportsguy is correct in his analysis of how CDD bonds work. They are not simply an "investment vehicle", as described by Mr. Goldwingnut, nor are they immune to being influenced (nor beyond manipulation) by the Developer.
They are indeed a loan from and liability for, the CDD's.
CDD Bonds never attach to a "homeowner", they attach to land only. They are not a debt of the homeowner. Only landowners assume the obligation. A homeowner never assumes liability nor becomes a debtor. Perhaps it's only semantics, but if you're going to get into the weeds, accuracy is important.