MIAMI—Pending legislation before Florida lawmakers could dissuade bulk condo investors from betting on distressed assets. The concurrent bills—SB 1172 and HB 643—would force bulk buyers of condominium complexes to pay a premium to holdout owners who don't want to dissolve the association.

That would mark a stark change form the past few year, where the common practice has seen investors invest in distressed projects in bulk and gain the power to dissolve the association and flip the property into rentals. GlobeSt.com caught up with Jason Kellogg, a partner at Miami-based litigation firm Levine Kellogg Lehman Schneider + Grossman, to get his take on the bills and what the proposed changes really mean in part one of this exclusive interview.

GlobeSt.com: Can you provide a brief overview of the concurrent bills that recently passed in the House and Senate this Florida legislative session?