Buying or selling on Fisher Island: what FICA and the 23 associations require

Two sets of assessments: FICA's, which is set per home, and the home's own association's, which differs from building to building. FICA's annual operating assessment for 2026 is $64,495 per Assessment Unit, about $5,375 a month, up 20.82% from $53,380 in 2025 (budget notice, not recorded). Each residential unit is one Assessment Unit, whatever its size (2022 Master Covenants Art. VI § 2). Owners who prepaid certain financed replacement-fund costs may pay less (2025 audited financial statements, not recorded).

Each of the 23 associations levies its own assessments under its own budget. A condominium resale buyer is entitled to a copy of the association's annual budget, at the seller's expense (the seller's documents). The condominium or homeowners' association's estoppel states its regular periodic assessment and how often it is paid (Fla. Stat. § 718.116(8)(a) for a condominium; § 720.30851(1)(h) for Valencia Estates and Links Estates), and the closing figures prorate the amounts the estoppels certify.

On top of the assessments:

• Fisher Island Club dues, for members only: $42,776.89 a year including tax under the 2026 rate sheet, after a one-time $500,000 contribution (joining the Club).
• Special assessments. FICA's Voting Members were to vote on 15 October 2026 on a capital improvement assessment of up to $5 million for island-wide lighting (notice of 1 October 2026, not recorded; what we check).
• Ferry charges, if FICA sets any per person or per ride rather than through the assessments (2022 Master Covenants Art. XI § 2).
• Property taxes. The Property Appraiser's 2026 adopted millage is 18.6681 on Miami Beach folios and 16.8983 on unincorporated ones (which applies).

It is not required. Neither FICA's documents nor any association's declaration makes Fisher Island Club membership a condition of owning, occupying or reaching a unit. Valencia Estates' declaration says a lot carries no right to the Club. Owners and Club Equity Members with approved identification get ferry access automatically (FICA Rules and Regulations § 6 ¶ 3, not recorded).

Fisher Island Club, Inc., a separate corporation, and its Membership Committee approve each applicant. Applicants without two Equity Member sponsors are interviewed, and applications include a background check (membership application, September 2025 form, not recorded). The 2026 rate sheet (2 December 2025, not recorded) sets a one-time $500,000 equity capital contribution and $42,776.89 annual dues including tax. Where the membership is bought with a unit, the Club's Purchase Agreement and application are due at closing or 90 days after the unit contract is signed, whichever is earlier. The contribution is paid at closing (Purchase Agreement, September 2025 form, not recorded).

FICA's and the association's, ordered together. An estoppel certificate is an association's signed statement of what the seller owes it. In the Island Developers condominiums and Valencia Estates, a right of first refusal adds its certificate (the steps).

No sale may close until all sums due FICA are paid and the owner has its estoppel certificate "in recordable form" (2022 Master Covenants Art. IX § 1, Art. VI § 7). Once everything is paid, FICA must deliver it "within ten (10) days of a written request" (Art. IX § 1). FICA, "not the Neighborhood Associations", collects its assessments (2022 First Amendment, OR 33238/1903), so its estoppel is ordered separately. FICA names no management company, and its President, not a board member, "shall serve as the chief executive officer" (2022 By-Laws Art. II, Art. VI § 2). Its documents set no fee, but its 2025 audited financial statements (not recorded) show estoppel fees, so we ask for the amount.

If the seller is behind, we first ask FICA for the amount owed. FICA must give, "upon demand at any time", a certificate "setting forth whether all Assessments have been paid" (Art. VI § 6). We pay the arrears from the seller's proceeds, then get the paid-in-full certificate.

Each association levies its own assessments, secured by its own lien. The condominium declarations promise the certificate within 15 days (§ 13.7), but Florida's Condominium Act (Chapter 718) now requires a condominium association to issue one within 10 business days of a written or electronic request (Fla. Stat. § 718.116(8)). Our HOA approvals and estoppels page covers fee caps and late answers.

FICA does not, and only Oceanside No. Two's association may disapprove a sale, for cause. FICA's documents contain no approval of sales or buyers, and no application, interview, background check or approval fee. Its only condition on a sale is its estoppel.

At Oceanside No. Two, a 2010 amendment lets the association "disapprove for cause any proposed sale or lease" (§ 18.2, OR 27308/2287, recorded 4 June 2010, p. 4). The seller and buyer must give it "all necessary information, including, but not limited to, the written notice and application materials". No other association's declaration provides for approving or refusing a buyer. The Fisher Island Club approves its own members, but joining it is not a condition of buying (the Club).

Seventeen associations hold a right of first refusal, the right to buy the unit on the outside offer's terms. They are fifteen condominiums Island Developers, Ltd. declared from 1986 to 1992, Valencia Estates and Palazzo del Mare. That developer's other condominium, Marina Village No. Three, was terminated in 2024 and has no units left to sell. Valencia Estates' right is much the same but gives 30 days throughout (its page).

Palazzo del Mare, which is not an Island Developers condominium, added its own right on sales in 2020 (§ 17.17, OR 32035/61, recorded 4 August 2020). Its association has 20 days to elect and 30 to close, and institutional first mortgagees are exempt. The offer must come with "$100.00 per applicant (or such greater amount as may be required by the Association and permitted by the Act)" as a screening fee (§ 17.17).

In the fifteen condominiums (for example Bayside Village East Decl. § 18.1, OR 13718/1001):

1. The owner sends the association notice of the outside offer by registered mail, plus any information it asks for.
2. The association has 30 days to elect to buy, then 45 days to close. A later sentence says "twenty (20) days" to accept or reject "after receipt of notice and all additional information requested" (OR 13718/1034). All fifteen were declared with both periods, so allow 30.
3. If it does not buy, the owner may accept the outside offer within 60 days. Other terms, or a later sale, need a new notice.
4. A sale made without complying "shall be voidable" at the association's election (for example Oceanside No. Three Decl. § 18).
5. The association's executed, acknowledged certificate of compliance or waiver is conclusive for anyone relying on it in good faith. Its fee is limited to charges reasonably required, within the Condominium Act's limits (§ 18.5).

Eleven of the seventeen rights also cover leases, so a lease goes to the association first. Bayview No. Two's has covered leases again since 1997, while Bayside Village's has covered sales only since 2009 (the shared terms). All eleven sit with associations that approve leases, as do Bayside Village, 5100 Bayview and Palazzo del Sol / della Luna.

"Building" is the island's building number, the first digits of the unit numbers, except at Bayside Village. Unless a Leases cell says otherwise, a condominium unit may be leased once a calendar year, with up to a month's rent as deposit.

At Bayside Village, "No lessee may occupy the Unit prior to obtaining the Board of Directors' approval" (2009 § 17.8, OR 26970/4199, p. 2). 5100 Bayview's 2016 amendment lists the grounds for rejecting a lease (§ 17.8(c)), and Oceanside No. Two may disapprove a lease for cause (§ 18.2). Bayview No. Three's § 17.8 as amended in 2005 should be read on the file. The other condominium declarations that require approval set no deadline, fee or interview beyond the right of first refusal's 20 days. Ask the association for its procedure and fee on each file.

The fifteen remaining Island Developers condominiums share one form, with mostly matching section numbers. Where a later amendment departs from it, the building is named below.

Their right of first refusal follows the steps above (§ 18.1). As declared, it covers leases too, except at Marina Village, Marina Village Gardens No. Two, Seaside Villas and Seaside. Bayside Village's 2009 amendment limited its right to sales and extended the association's election period from twenty days to thirty (OR 26970/4199, recorded 7 August 2009, pp. 4–5). Oceanside No. Five exempts its non-residential Unit 7201. Buying takes a majority vote of the units present at a meeting (§ 18.2).

Oceanside No. Two's § 18.1, as amended in 2010, still reaches an offer "to purchase or lease his Unit" (OR 27308/2287, recorded 4 June 2010, p. 2). Its association may now elect "to disapprove the purchase, or to purchase such Unit or to lease such Unit". Section 18.2 now lets it disapprove a sale or lease for cause (p. 4, the rule).

At Bayview No. Two a 1996 amendment struck "or lease" from § 18.1 (OR 17291/4804, recorded 29 July 1996), and a 1997 amendment put leases back (OR 17859/4791, recorded 6 November 1997). Since then § 18.1 again reads "No Unit Owner other than the Developer may sell his Unit and no Unit Owner may lease his Unit except by complying with the following provisions" (OR 17859/4792). The same amendment also changed § 18.2, the members' vote on buying (OR 17859/4791).

The right does not reach transfers to the owner's spouse, adult children, parents, parents-in-law or adult siblings, or to a trust or company owned only by them or the owner. Nor does it reach the Developer, the association, foreclosure sales, deeds in lieu or an Institutional First Mortgagee (a bank holding a first mortgage) taking title (§ 18.7), or gifts, inheritance and mortgages (§§ 18.8–18.9).

Where it covers leases, only the people § 17.1 lists may occupy a company's or trust's unit, and a stay over a month is a lease (for example Oceanside Decl. § 17.1). The four whose right was declared for sales only put no limit on how often, how long or to whom a unit is leased (for example Seaside Decl. § 17.8, OR 14165/2954). Changing that takes 90% of all unit owners (§ 17.8).

Their § 17.3 allows one household pet. Bayview No. Two and Oceanside No. Five allow "Not more than two (2) household pets" under developer amendments (OR 17478/3973, recorded 30 December 1996; OR 16992/202, recorded 15 November 1995). Oceanside No. Two's one pet may weigh at most 85 pounds at full maturity since 2011, up from 50 pounds in 2010 (OR 27693/1380, recorded 18 May 2011).

A buyer owes the seller's unpaid assessments jointly with the seller (§ 13.1), with interest "at the highest lawful rate" after 15 days (for example Harborview Decl. § 13.2). An Institutional First Mortgagee taking title by foreclosure or deed in lieu owes no earlier assessments unless a claim of lien preceded its mortgage (§ 13.5).

Fines are capped at $50 and never become a lien (for example Bayview No. One By-Laws § 5(m)). Amendments need owners of over 50% of the units plus at least 66 2/3% of the board, or owners of over 80% (§ 6.1). Terminating Seaside, Harborview, Oceanside or Oceanside Nos. Two and Three takes 80% of the interests and the Primary Institutional First Mortgagee (§ 20). Oceanside and Oceanside Nos. Two to Four need a 75% owner vote to sue (§ 25.2 or § 26.2), though Oceanside and No. Four exempt collection and enforcement suits.

Developer amendments of 1992 and 1993 changed Oceanside Nos. Four and Five and Bayview No. Three. There a first mortgagee taking title owes at most six months' assessments, capped at 1% of the original mortgage debt (§ 13.5). The lien binds a first mortgage of record only from a recorded claim of lien (§ 13.2). Fines may reach $100 a violation and $1,000 in all, and amendments need over 66 2/3% of the voting interests (§ 6.1). Bayview No. Three rewrote its collection remedies in 2021 (OR 32420/772, recorded 29 March 2021). Its § 13.5 now sets six months for mortgages recorded by then and twelve for later ones, each capped at 1% and conditioned on the association being joined in the foreclosure (the lender point). That amendment also lets owners adopt changes that bring the declaration into line with the Condominium Act by "a majority of Unit Owners represented at a meeting at which a quorum has been attained" (§ 6.1, p. 3).

No transfer fee, capital contribution or working-capital payment under FICA's documents or, on a resale, any association's declaration. Links Estates charges an "Initial Contribution" of "two times the quarterly assessment" only to "The first purchaser of each Lot from the Declarant" (Links Estates Decl. § 15.11, OR 33216/2180). Joining the Fisher Island Club carries its own $500,000 contribution. The buyer does pay:

• Prorated assessments, FICA's and the association's (the amounts).
• An information fee at 5100 Bayview (By-Laws § 17), Palazzo del Mare (§ 18) and Palazzo del Sol / della Luna (§ 19). It is up to $150, plus copying and attorney's fees, for information beyond what the law requires, given to a prospective buyer or lender.
• An approval fee of at most $150 per applicant, only where a condominium association must approve the transfer and its declaration, articles or by-laws provide for one (Fla. Stat. § 718.112(2)(k)).
• Any ferry charge FICA sets per person or per ride, rather than through the assessments (2022 Master Covenants Art. XI § 2).
• At Links Estates, general liability insurance of "not less than Two Million Dollars", naming the association, and before the Community Completion Date the developer, as additional insured (Links Estates Decl. § 13.2). Bind it at closing.

Estoppel fees normally fall on the seller (below).

FICA's Voting Members were to vote on 15 October 2026 on a capital improvement assessment of up to $5 million for island-wide lighting (notice of 1 October 2026, not recorded). With no outcome posted by 16 October 2026, we ask FICA whether it passed and check that its estoppel shows it.

Under Fla. Stat. § 718.503(2)(a)–(b), a condominium resale buyer is entitled, at the seller's expense, to current copies of:

• The declaration, articles, by-laws and rules.
• The annual financial statement and budget.
• The inspector's summary of any milestone inspection report.
• The latest structural integrity reserve study, or a statement that none was done.
• Any turnover inspection report, for an inspection from 1 July 2023 on.
• The "Frequently Asked Questions and Answers" sheet.
• The governance form from DBPR, the state Department of Business and Professional Regulation.

A buyer without them more than 7 days before signing may cancel within 7 days, excluding weekends and legal holidays, of the later of signing and receipt (§ 718.503(2)(d)–(e)). The period was 3 days before 1 July 2025 (ch. 2025-175). Contracts signed after 31 December 2024 must state whether the milestone inspection and reserve study are done.

A building of three or more habitable stories needs a milestone inspection by 31 December of the year it turns 30, then every 10 years (Fla. Stat. § 553.899(3)). Near salt water the local agency may require it at 25. One that turned 30 before 1 July 2022 needed its first inspection before 31 December 2024. Most Fisher Island condominiums were declared from 1986 to 1992. The structural integrity reserve study was due by 31 December 2025. Where the milestone inspection is due by 31 December 2026, the study may be done with it, but not completed after that date (§ 718.112(2)(g)). From 1 January 2026 a condominium of 25 or more units must post listed records on a website or app (Fla. Stat. § 718.111(12)(g)).

A buyer in either homeowners' association must get a disclosure summary before signing. A buyer who signs without it may cancel within 3 days of receiving it or before closing, whichever comes first (Fla. Stat. § 720.401).

We ask each condominium association early for its milestone and reserve-study status, so the contract can state it.

Usually, under the association's rules, since FICA leaves leasing to each. Of the 23, fourteen approve every lease and nine approve none. Of those nine, four newer condominiums and Links Estates set six-month minimums. Marina Village, Marina Village Gardens No. Two, Seaside Villas and Seaside set no limits (the table).

Under Fla. Stat. § 718.110(13), an amendment that bans rentals or changes their term or frequency can bind a buyer though not the seller. It "applies only to unit owners who consent to the amendment and unit owners who acquire title to their units after the effective date of that amendment". Leasing rules change by amendment, as Bayside Village's did in 2009 and 5100 Bayview's in 2016. For an investor buyer we search for later amendments before saying what applies.

FICA allows only a whole unit or lot to be leased, apart from a ground lease of 20 years or more. Beyond that, leasing is "subject to the requirements of the applicable Neighborhood Association" (2022 Master Covenants Art. IX § 2, p. 27). It allows no more than "two (2) persons per bedroom and one (1) person per den", plus temporary guests, unless the board allows more. A guest's principal residence is elsewhere, and anyone staying over a month is a lessee, with or without a lease or rent (Art. IX § 3).

Managers register tenants with FICA's Public Safety Department, sending the lease, tenant registration and association approval form, and the tenant gets an identification card and a "T" number. FICA "may deny access to the Transportation System for a Tenant", meaning the ferry, when a required association approval was not obtained in advance (FICA Rules and Regulations § 6 ¶ 6, not recorded).

Mostly not. The island is largely unincorporated Miami-Dade County, with Property Appraiser folio numbers beginning 30. Buildings 68 and 70 (Palazzo della Luna and Palazzo del Sol, one condominium), 71 (Palazzo del Mare) and 72 (Oceanside No. Five) are in the City of Miami Beach, with folios beginning 02. So are some Fisher Island Club golf-course parcels and a FICA common-area parcel (Property Appraiser).

The municipal lien search and building department are the City of Miami Beach for those four buildings and Miami-Dade County for the rest. The Property Appraiser's 2026 adopted millage chart gives 18.6681 on Miami Beach folios (code 0200) and 16.8983 on unincorporated ones (code 3000).

Units are usually addressed by number (Unit 7911 is 7911 Fisher Island Drive). The exceptions are Bayside Village, 7600 Oceanside (all at 7600), Palazzo della Luna (all at 6800), one Marina Village commercial unit, and the houses on Valencia Drive and Links Drive. The Property Appraiser may list a combined unit as "FKA UNITS …" with its old numbers. On its record, condominium owners with island mailing addresses mostly give Miami Beach, FL 33109, while its site city is "Unincorporated County" on every folio not beginning 02.

The seller usually pays the estoppel fees and arrears, and a sign needs FICA's approval.

• FICA's rules bar any sign visible from outside a unit, or on outside walls, fences, entryways or vehicles, without its approval, "To the maximum extent permitted by law" (Rules and Regulations § 2 ¶ 2). That reaches For Sale and For Rent signs.
• Send any first-refusal notice early and allow 30 days (the steps).
• At Oceanside No. Two, the seller and buyer must give the association "all necessary information", since it may disapprove a sale for cause (§ 18.2).
• Paragraph 9(a) of the Florida Realtors/Florida Bar “AS IS” contract puts estoppel fees on the seller, within the statutory caps. Another contract form can say otherwise.
• Arrears come out of the seller's proceeds at closing (how).
• A tenanted unit needs FICA tenant registration, and FICA may refuse the ferry to a tenant without a required lease approval (leasing).

The ferry right passes with the title. Owners and their permitted occupants hold "a permanent and perpetual non-exclusive easement" over the Common Areas. These include the Transportation System: the ferry landings, mainland terminals and garage, ferries and Common Area roads (2022 Master Covenants Art. I(f)(vi), (r)–(s), Art. IV §§ 2–3).

Changes visible from outside now go to the home's own association. A notice FICA recorded on 13 May 2026 delegates "all architectural control duties, functions, and powers set forth in Article VIII of the Master Covenants" to each Neighborhood Association, for property within its jurisdiction (OR 35298/4403, p. 1). FICA still "expressly reserves and retains the absolute power to veto any action or decision taken by a Neighborhood Association in connection with architectural control or exterior modifications" (¶ 2, p. 1). The association must send FICA a copy of every approval within 5 days. Before then, plans went to FICA's Architectural Control Committee. The 2022 First Amendment made it three members, chosen by the Voting Members from a Board list of up to six. It left Article VIII § 2 unchanged (OR 33238/1849). That section reads: "The Committee shall have thirty (30) days after delivery of all required materials to approve or reject any such plans, and if not rejected within such 30-day period, said plans shall be deemed approved."

FICA's own rules still govern the work itself. They require "at least sixty (60) days" notice of work needing a permit and limit work to 8:00 a.m. to 5:00 p.m. on weekdays. No work is allowed on Memorial Day, Independence Day, Labor Day, Thanksgiving and the day after, or in a two-week December–January period FICA announces yearly. Contractors register with FICA for $250 to $1,000 a company (Rules and Regulations § 7 ¶¶ 7, 9, not recorded). Valencia Estates charges a non-refundable $5,000.00 fee per architectural submission (Valencia Estates Decl. § 7.11).

Golf-cart drivers must be at least 15 with a learner's permit, 16 with a driver's license or 18 with identification. Violations go to the Fisher Island Club for discipline (Rules and Regulations § 3, as amended in 2025).

At 31 December 2025 FICA owed $70.9 million in term loans, "secured by a first priority security interest in all member assessments" (FICA's 2025 audited financial statements, not recorded).

The developer, Fisher Island Holdings, LLC, keeps its rights as Declarant under the 2022 text until 31 December 2028. That end date has exceptions for unsold homes on Parcels 7 and 9 (Art. XII § 13).

Parcel 7, at 6 Fisher Island Drive, was sold to a private buyer on 15 September 2022 (clerk's file number, or CFN, 2022R0725199). A 2022 agreement by the developer waives site-plan approval rights for Parcel 7 (OR 33385/3977). A county zoning declaration of restrictions for 6 Fisher Island Drive was recorded on 20 January 2026 (OR 35124/4075). Notices of commencement were recorded from 2024 to 2026. No condominium declaration for Parcel 7 was recorded through 9 October 2026, and the Property Appraiser's 2026 roll still shows one vacant parcel.

FICA also signed a reciprocal easement agreement, recorded on 9 October 2025 (OR 34978/3452), with the owner of land that is not subject to the Master Covenants. That owner plans up to 59 condominium units there. The agreement gives the unit owners and FICA's members reciprocal access and use rights, and gives the landowner utility easements.

This section is for closers and attorneys.

• Arrears owed to FICA. Except for the § 8 lenders and purchasers below, an assessment debt "shall be joint and several with any successors in interest" (2022 Master Covenants Art. VI § 7). Anyone else taking title to a delinquent unit, even "by operation of law and by judicial sale", may not occupy it or enjoy the Common Areas until the seller's arrears are paid. FICA's power to suspend their use, ferry included, excepts "legal access", which the documents do not define (Art. IV § 2(d)).
• Arrears owed to the association. A condominium buyer "is jointly and severally liable with the previous owner for all unpaid assessments that came due up to the time of transfer of title" (§ 718.116(1)(a)), as the declarations also say. Lien searches miss unrecorded assessments. The estoppels are what protect the buyer.
• FICA's lien. Unpaid assessments carry 18% interest a year and become "a continuing lien on the appropriate Lot". Priority relates back to the Original Declaration's recording, except against a first mortgage, where the claim of lien's recording governs (Art. VI § 7). FICA's lien outranks the associations' (Art. VI § 8).
• Bank-owned resales. An institutional-type lender whose first mortgage predates a claim of lien, and anyone taking title through its foreclosure or deed in lieu, owes FICA only assessments "coming due after such foreclosure" (Art. VI § 8). A non-institutional lender is outside § 8. FICA's documents say it "is governed by Chapter 617, Florida Statutes and not Chapter 720" and invoke none of Chapter 720's limits. Its 2025 audited financial statements (not recorded) still give the Chapter 720 reserve disclosure (§ 720.303(6)).
• Foreclosing condominium lenders. Several older declarations clear a foreclosing first mortgagee of earlier assessments unless a claim of lien was recorded before its mortgage (§ 13.5). Later ones cap them at six months' assessments (Palazzo del Sol / della Luna, twelve) or 1% of the mortgage debt. At Bayview No. Three since 2021, the lender owes the lesser of six months or 1% if its mortgage was recorded on or before 29 March 2021, and of twelve months or 1% if later (OR 32420/772). Either cap applies only if the association was joined in the foreclosure (§ 13.5(c)). Chapter 718's cap, the lesser of 12 months' assessments or 1% of the original debt, applies "only if the first mortgagee joined the association as a defendant in the foreclosure action" (§ 718.116(1)(b)). Underwriting decides which rule governs, and the estoppels show what each association claims.
• Fines. Under the covenants no fine under $1,000.00 becomes a lien (Art. VII § 3(e)), which implies a larger one can. FICA's rules say no fine "shall result in a lien" (Rules and Regulations § 1). Ask for any fine on the estoppel.
• Building-specific points we check:
  • Harborview, Buildings 44–47: the whole declaration was re-recorded on 5 January 1990 (OR 14385/2661, 125 pages). Its margin legend says this corrected an error in assembling Exhibit 2, which held duplicate survey and plot plans. A 2023 amendment made with all owners' consent replaced Exhibit 1, the legal description and survey, and Exhibit 2, the plot plans (OR 33811/4645, recorded 27 July 2023).
  • Bayview No. Three, Building 52: a 99-year lease of the common elements next to Unit 5211 to that unit's owner, with a restrictive covenant, was recorded on 28 April 2026 (OR 35276/2330).
  • Palazzo del Sol / della Luna: the declaration reserved a 47-unit Phase II (46 residential, 1 commercial). The Seventh Amendment annexed Phase II, Building 68, with 51, 50 residential and 1 commercial (OR 31521/4927, recorded 12 July 2019, though later recitals cite page 4937). The Eighth (OR 31539/340, recorded 24 July 2019) is Phase II's substantial completion certificate and replaced Exhibits 2 and 3. The Sixteenth and Seventeenth Amendments of 2021 set today's 93 units, 50 in Phase II and 43 in Phase I (OR 32466/4345, recorded 23 April 2021; OR 32651/865, recorded 30 July 2021). Check a unit's share against the amendments' exhibits.
  • 7600 Oceanside: declared with 26 units. An April 2001 amendment substituted a 27-unit share table, changing every share (OR 19593/4594). A 2003 amendment corrected Exhibits 2 and 3 as a scrivener's error under § 718.110(5), listing 26 units without 7613 (OR 21208/3997, recorded 30 April 2003). That count matches the Property Appraiser's 26 parcels. A 2004 amendment's table shows the combined Unit "7612-13" (OR 22320/3949, recorded 20 May 2004).
  • Marina Village No. Three: terminated under § 718.117 by a Certificate and Plan of Termination dated 27 June 2024 and recorded on 1 August 2024 (OR 34340/3934). The Fisher Island Club approved it as sole owner of all the voting interests and keeps fee title. On recording, the property was released from the declaration at OR 14575/379, and Building 42 is now one parcel.
  • Links Estates: the developer's lender consented to the declaration, but each lot needs a recorded partial release of its mortgage.

The 2022 restatement, recorded the day before turnover. The Second Amended and Restated Master Covenants were recorded on 13 June 2022 (OR 33238/1825, CFN 2022R0477866). Their First Amendment was recorded the same day (OR 33238/1903, CFN 2022R0477867). Turnover, when the developer handed control to the owners, came on 14 June 2022 (FICA's turnover audit, not recorded). We cite the two as "2022 Master Covenants" and "2022 First Amendment". We have not compared the 2022 text with the 2009 text, so we cannot say everywhere they differ.

Island Developers, Ltd.'s Master Covenants for Fisher Island were recorded on 5 September 1986 (OR 13008/2052). Thirteen amendments and supplemental declarations followed, then the 2009 restatement (OR 26838/4363, recorded 23 April 2009), which FICA publishes with its recording stamp. Between the two restatements, Fisher Island Holdings, LLC, the developer, recorded two supplemental declarations. The first (OR 31453/368, recorded 22 May 2019) removed a parcel the Fisher Island Club had conveyed to the United States and added the parcel received in exchange. The second (OR 32237/281, recorded 14 December 2020) added Terminal Island Parcels 22 and 24.

The developer signed both 2022 instruments, FICA joined in the restatement, and both were acknowledged on 10 June 2022. The restatement takes effect only when recorded (Art. XII § 7). Its Exhibits "A" and "B" copy pages recorded at OR 16033/4581–4586 and OR 20249/3511–3513. Exhibit "D", the Ferry Transportation Services Agreement, was recorded on 25 February 2022 (OR 33039/3783). The clerk indexes the 2019, 2020 and 2022 instruments as agreements or affidavits under the developer's name, not FICA's. The Links Estates declaration, signed in January 2022 and recorded on 1 June 2022, still defines FICA's documents as the 2009 restatement.

The First Amendment changed the alternative vote for amending the covenants from 75% of the Voting Members to "85% of the Voting Members and a majority of the Board of Directors" (Art. XII § 5, p. 2). It also says the clause in Art. V § 3 requiring the Club's approval of amendments is "hereby deleted in its entirety" (pp. 1–2).

FICA's counsel told the Voting Members on 22 June 2022 that the new documents "were recorded last week after turnover" (FICA's minutes, not recorded). The Official Records show both recorded on 13 June 2022, the day before turnover.

For FICA: the master covenants above, its 2022 articles and by-laws, and its Rules and Regulations as amended through 6 October 2025. We searched the Miami-Dade Clerk's Official Records index, current through 9 October 2026, for FICA's instruments since June 2022, under its own name and the developer's. It found the 2022 restatement and First Amendment, the 2025 reciprocal easement and the 2026 delegation notice, and nothing else that changes the covenants.

For each association: its declaration and the amendments we read, recorded from 1986 to 2026. We searched the same index, through 9 October 2026, for every association's instruments, and each association's page says what the search found. The table's "Newest we hold" column gives the newest instrument read for each. Known amendments and certificates not read are Oceanside No. Three's 2015 certificate (OR 29679/2854), 5000 Bayview's second 2004 amendment (OR 22532/2361) and Marina Village No. Three's 2012 amendment (OR 28352/4644). The association pages name the other instruments not read, such as deeds and plats. FICA's rules and the FICA and Club notices, minutes, financial statements, rate sheets and forms cited are not recorded. The Property Appraiser's record adds later changes, mostly unit combinations noted on the association pages. DBPR's condominium list (10 October 2026) shows the same 21 condominiums, and FICA's website the same 23 associations.

Owners belong to FICA by owning a unit or lot, but vote only through a Voting Member their association's members elect. The Fisher Island Club has one too (2022 First Amendment to the Master Covenants, Exhibit "E", OR 33238/1903; 2022 By-Laws Art. V § 1).

Anything recorded after 9 October 2026 is not reflected. Nothing here replaces the estoppel certificates.