Loading chat...

FL S0736

Bill

Status

Engrossed

4/23/2015

Primary Sponsor

Fiscal Policy

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • Reduces the timeline for associations to issue estoppel certificates from 15 days to 10 business days upon receiving a written or electronic request from unit owners, mortgagees, or their designees.

  • Establishes specific required contents for estoppel certificates including date of issuance, amounts owed on issuance date, scheduled assessments for the 30-35 day effective period, preparation fees, and officer signature.

  • Sets maximum fees associations may charge: $200 for certificates with no delinquent amounts, up to $200 additional if delinquent amounts are owed, plus up to $100 for expedited delivery within 3 business days; fees cannot be charged if issued more than 10 business days after request.

  • Provides that associations waive the right to collect amounts exceeding those stated in the certificate from persons who rely on it in good faith, including their successors and assigns.

  • Allows summary proceedings under section 51.011 to compel associations to prepare or deliver estoppel certificates, with prevailing parties entitled to recover reasonable attorney fees; applies these requirements to condominiums, cooperatives, and homeowners associations.

Legislative Description

Residential Properties

Last Action

Died on Calendar

4/28/2015

Committee Referrals

Fiscal Policy4/9/2015
Judiciary4/2/2015
Regulated Industries2/13/2015

Full Bill Text

No bill text available