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FL H0611
Bill
Status
2/5/2015
Primary Sponsor
Judiciary Committee
Click for details
AI Summary
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Extends the timeframe for associations to issue estoppel certificates from 10 business days to 15 days after receiving a written or electronic request for condominiums, cooperatives, and homeowners associations.
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Requires estoppel certificates to specify the issuance date, amounts owed, scheduled future assessments, any preparation fees, and an officer's signature, with different effective periods based on delivery method (30 days if delivered on issuance date, 35 days if mailed).
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Establishes maximum fee limits for estoppel certificates: $250 when no delinquent amounts are owed, plus up to $100 additional fee for expedited delivery within 3 business days, and up to $100 additional fee when delinquent amounts are owed; prohibits fees if certificate is issued more than 10 business days after request.
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Allows associations to waive claims for amounts exceeding those stated in the certificate from good-faith reliers and their successors, and authorizes summary proceedings to compel certificate issuance with attorney's fees for prevailing parties.
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Requires fee authority to be established by written board resolution or management contract, with refund provisions if requested sales or refinancings do not close within 60 days; effective July 1, 2015.
Legislative Description
Residential Properties
Last Action
Died on Calendar
4/28/2015