SAndy
That is my understanding also. Recognizing many if not most heirs could be only in their 40s, its not a matter of them being "required" to sell the property because of deed restrictions if something would happen to the current owners. In all likelihood they would sell for financial reasons or they are just not ready to accept this type of lifestyle. The 40 year olds still have a primary residence and Job up north and simply cannot afford (even though the home may be free) the upkeep of a second home in Florida, paying taxes, utilities, amenity fees and other expenses for the minimal amount of time they would spend here. They would be better off selling the home in TV and using the proceeds for what they do today..or better yet, to put the funds aside to supplement their retirement whenever that would be. TV may be our Utopia today but who knows, there could be another "TV like" development somewhere 10-15 years down the road.
|