Quote:
Originally Posted by chuckinca
I believe one owner has to be 55 or older to qualify the home as owned by 55 or older and count toward the 80% 55 or older. Both owners can be under 55 but the total of the under 55's can't exceed 20% of the total homes.
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Quote:
Originally Posted by Posh 08
"They" say 20% must be under 55, but nobody knows who is keeping track.
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Chuck's description of the law is correct. In order to qualify as an "age-restricted" community, AT LEAST 80% of homes must be owned by at least one resident OVER 55. No one under 19 may be a full-time resident, but anyone else may purchase a home as long as no more than 20% are 100% owned by persons under 55. My unscientific observation is that the 20% rule is in no danger of being approached. I did play golf a couple years ago with two men who looked to be in their early 40s or younger, and who each lived in Duval on the same street - both had jobs where they could work from their home and travel. They were bigtime golfers and that is what drew them to TV. The law has no minimum number UNDER 55, and 100% of residents COULD be over 55 and still qualify under the law. I would assume that somewhere in the Morse organization there is someone with a spreadsheet who keeps track of the age distribution and reports to the proper authorities.
EDIT; Skybo pressed the post button before me, thus rendering some of my post redundant.