Buying Off-Plan at Bentley Residences Sunny Isles Beach: What the Contract Terms Actually Mean for Multi-Generational Families

Bentley Residences is not simply another branded tower rising along the Sunny Isles Beach skyline. Developed by Dezer Development in collaboration with Bentley Motors, the project represents a convergence of automotive heritage, architecture by Sieger Suarez, and ultra-luxury amenity programming that appeals specifically to families who want a single address to serve multiple generations simultaneously. When grandparents, parents, and adult children all share a financial stake in a real estate purchase of this magnitude, understanding every line of the purchase agreement becomes a family responsibility — not just a legal formality.

Off-plan purchases in Florida operate under a specific regulatory framework that is meaningfully different from a standard resale transaction. Buyers commit capital years before a certificate of occupancy is issued, which means the contract document itself — not the model unit, not the sales gallery experience — is the primary asset you are acquiring on day one. For a multi-generational family pooling resources, ambiguities in that contract can create real disputes down the road: who has the right to occupy which unit, how title is vested across family members, what happens if one family member's financial situation changes before closing. Getting clarity on these questions before signing is the single most valuable thing a buying family can do.

Like virtually all major pre-construction luxury towers in South Florida, Bentley Residences uses a staged deposit structure rather than a single upfront payment. Buyers typically make an initial deposit at contract execution, followed by additional deposit installments tied to construction milestones — for example, when the foundation is poured, when the structure reaches a specified floor, and so on. The final balance is due at closing once a certificate of occupancy is obtained. This phased approach exists to benefit both the developer, who uses deposits to fund construction, and the buyer, who spreads capital outlay over several years.

The critical distinction families need to understand is between deposits held in escrow and deposits released to the developer. Florida's Condominium Act (Chapter 718) provides certain protections requiring that buyer deposits up to a statutory threshold be held in escrow by a neutral third party — typically a title company or bank — until specific conditions are met. However, luxury pre-construction contracts often include mechanisms, permitted under Florida law, by which the developer may draw down escrow funds for construction purposes once certain milestones are certified. For a multi-generational family, the practical implication is this: by the time you reach the midpoint of construction, a meaningful portion of your deposited capital may no longer be sitting in a protected escrow account in the traditional sense. Understanding exactly when, how, and under what conditions your deposits can be drawn down is not a secondary concern — it is a primary one.

The phrase 'non-refundable' deserves particular scrutiny. Standard developer contracts at projects like Bentley Residences will define specific circumstances under which deposits are or are not returned: developer default, inability to obtain financing, changes to the offering documents that materially affect the unit, or failure to close by a specified outside date. Conversely, buyer default — including failure to make a subsequent deposit installment on time or failure to close when notified — typically results in forfeiture of deposits already paid. Families pooling capital from multiple sources, including trusts, international accounts, or business entities, need to plan their liquidity timelines carefully so that deposit installments can be met without disruption, regardless of which family member's account the funds originate from.

One of the most consequential decisions a multi-generational buying family makes is how to take title — meaning, whose name or entity name goes on the deed and the purchase contract. Florida offers several vesting options, each with different implications for estate planning, liability exposure, tax treatment, and operational control. For families purchasing at Bentley Residences, the choice typically comes down to individual ownership, joint tenancy with rights of survivorship, tenancy in common, a Florida LLC, or a domestic or foreign trust structure.

Joint tenancy with rights of survivorship is simple and avoids probate, but it gives each named owner equal and undivided rights to the entire property — which can create friction if one family member wants to sell or mortgage their interest while another does not. Tenancy in common is more flexible in terms of percentage ownership splits, but it does not include automatic survivorship, meaning a deceased owner's share passes through their estate rather than directly to the co-owners. For families with estate planning goals — particularly those who want to keep the property within the family across generations — a revocable living trust or an irrevocable trust structure is often the most elegant solution, providing both probate avoidance and clear succession planning.

Many international families purchasing at Bentley Residences choose to hold title through a Florida LLC or a foreign corporation for reasons that include liability insulation, privacy (Florida LLC ownership records are less publicly accessible than individual deed records), and international estate planning efficiency. However, developer contracts sometimes restrict or require disclosure of assignment rights when title is held through an entity, and some lenders — if the family is financing any portion of the purchase — impose limitations on entity-held luxury condo purchases. The key point is that the entity structure should be established and its implications fully understood before the purchase contract is signed, because changing the vesting after signing can trigger assignment provisions, transfer taxes, or documentary stamp recalculations. A qualified Florida real estate attorney working alongside your tax advisor is essential at this stage.

Assignment clauses are among the most negotiated and most misunderstood provisions in luxury pre-construction contracts. An assignment occurs when the original buyer (the 'assignor') transfers their rights and obligations under the purchase contract to a new buyer (the 'assignee') before the project closes. For a multi-generational family, assignment rights matter in several practical scenarios: what if family circumstances change and the purchasing entity needs to be restructured? What if one generation's financial situation shifts and the family wants to bring in a new co-investor? What if the market appreciates significantly and the family wants to monetize the contract gain before closing?

At Bentley Residences, as with most luxury developer contracts in South Florida, assignment rights are typically limited — not unrestricted. The contract will generally specify whether assignments are permitted at all, whether they require developer consent, whether the original buyer remains liable after assignment ('continuing liability'), and whether assignment fees or transfer fees are payable to the developer. It is also common for developer contracts to distinguish between an assignment to a wholly-owned entity (such as an LLC controlled by the same family) and an assignment to a third party. The former is often permitted with notice; the latter typically requires developer approval and may involve a fee.

For multi-generational families who may anticipate restructuring their ownership over the multi-year construction timeline — for example, adding an adult child to the ownership entity as they come of age, or transitioning from an individual holding to a trust — understanding these assignment provisions in advance is not speculative planning. It is essential due diligence. Some families negotiate specific assignment rights as part of their initial contract terms, particularly for purchases at higher price points where the buyer has leverage. Having a buyer's agent who understands the developer's flexibility on these terms — and who has a relationship with the developer's sales team — is one of the most direct ways to achieve a more favorable contract outcome.

Pre-construction buyers at any major South Florida tower — including Bentley Residences — must understand that projected completion dates are estimates, not guarantees. Developer contracts universally include force majeure provisions that allow for construction delays attributable to causes outside the developer's control: supply chain disruptions, labor shortages, permitting delays, weather events, and in recent years, pandemic-related circumstances. The contract will typically define an 'outside closing date' beyond which the buyer may have the right to terminate and receive a deposit refund — but this outside date is often set generously far into the future, meaning the developer retains flexibility to complete the project later than originally marketed without triggering buyer termination rights.

For a multi-generational family, this timeline uncertainty has real planning implications. Grandparents who expect to occupy a unit during a specific tax year, adult children who have planned their own housing around a projected move-in date, or family members who have structured international relocations around the anticipated completion — all of these plans need to be held with appropriate flexibility. Building in a cushion of at least twelve to eighteen months beyond the publicly projected delivery date is a prudent planning posture for pre-construction buyers at any luxury tower.

Families should also understand that the developer reserves the right under most contracts to make modifications to the project's floor plans, finishes, amenities, and common areas, provided those changes do not materially and adversely affect the contracted unit. This means the specific tile brand shown in the sales gallery, the exact configuration of a lounge space, or a particular amenity detail could change between contract signing and delivery without constituting a default. Materially significant changes — such as a reduction in square footage beyond a defined threshold — do typically trigger buyer rights, but the threshold is defined in the contract and is not always as protective as buyers assume. Reviewing this language carefully, and discussing it as a family with qualified legal counsel, prevents disappointment at delivery.

Florida law requires developers of condominium projects to provide buyers with a public offering statement — commonly called the prospectus or disclosure package — before any binding purchase contract is signed. For a project of the scale and complexity of Bentley Residences, this document is substantial: it includes the declaration of condominium, the association bylaws, the rules and regulations, the budget for the condominium association, the management agreement, and detailed specifications of the units and common areas. Buyers have a statutory rescission period — fifteen days for new Florida condominium purchases from the time the buyer receives the public offering statement — during which they may cancel without penalty. This rescission window is one of the most important consumer protections in Florida pre-construction law, and families should use every day of it for document review.

A family buying together should divide the due diligence responsibilities intentionally. One family member or their designated attorney should review the association documents and budget to assess projected monthly maintenance fees, reserve funding adequacy, and any restrictions on rentals, pets, or alterations. Another should focus on the construction timeline provisions, force majeure language, and the outside closing date. A third — or preferably a dedicated tax advisor — should analyze the purchase from an estate planning and tax efficiency perspective in the context of the chosen title vesting structure. International family members should engage counsel familiar with FIRPTA (the Foreign Investment in Real Property Tax Act), which imposes withholding obligations on foreign sellers of U.S. real property and can affect how the family structures future resale or inheritance.

Finally, families should plan for the punch list process — the inspection and deficiency correction phase that occurs just before closing. At a luxury tower like Bentley Residences, the finish quality expectations are exceptionally high, and a detailed pre-closing walkthrough with a qualified independent inspector is not optional — it is essential. The contract will define the process by which deficiencies are documented and corrected, and buyers should understand their rights if deficiencies are not remedied to a satisfactory standard before they are asked to close. For multi-generational families where multiple decision-makers may be present at the walkthrough, agreeing in advance on who has final authority to approve or defer closing prevents confusion at a high-stakes moment. For current pricing, available units, and off-market access at Bentley Residences, contact Denis Smykalov at Wolsen Developments — denis@wolsenre.com or (305) 333-1122.