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FL S0736
Bill
Status
4/23/2015
Primary Sponsor
Fiscal Policy
Click for details
AI Summary
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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.
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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.
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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.
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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.
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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