Two companies paid pre-construction deposits in excess of ten percent of the purchase price on two condos. When there was no closing, CRC 603 and CRC 1103 sued North Carillon, seeking return of their deposits. They argued that Florida law requires developers to keep separate escrow accounts for deposits in excess of ten percent of the purchase price, which North Carillon did not do. After the trial court dismissed the claims, the Legislature changed the relevant law. The Third District Court of Appeal reversed the trial court, ruling that the change in law could not be applied retroactively.

Miami-Dade County