It is interesting. I imagine that if it cannot be rebuilt then the insurance proceeds would flow to the owners that are forced out. Which begs a question. Even under a floating system, I am assuming that the actual deeded owners of that building will be the ones forced out if it cannot be rebuilt?
Required by law as part of standard insurance, see post above.
I own in building 107 I believe this was building 104? Does anyone knows what building collapsed.
At summer bay Villa's there is multiple HOA's I believe on that site. Since I am a Villa owner and that is the collapse happened I know that this will effect me.
I don't know how the legal property divides and who owns what but I believe summer bay has room for another planed phase.
If they paid me out from insurance I would be really happy.