As of July 1, there is new estoppel legislation which as of Saturday is requiring that each association estoppel contain new disclosures and contents. The specific Florida Statutes
are Sections 718.116 and 720.30851.
Changes
Turnaround time: Within 10 business days after receiving a written or electronic request for an estoppel from a unit owner or the unit owner's designee, or a unit mortgagee or the unit
mortgagee's designee, the association must issue the estoppel certificate. If the estoppel certificate is not timely delivered, a fee for preparation and delivery may not be charged.
Delivery of estoppel: An estoppel certificate must be provided by hand delivery, regular mail or email to the requestor.
Estoppel effective period: If the estoppel certificate is hand delivered, it is effective for 30 days. If the estoppel is sent by regular mail, the certificate is effective for 35 days.
Estoppel Fees:
An association or its authorized agent may charge a fee for the preparation and delivery of an estoppel certificate, which may not exceed $250.
If the estoppel is amended due to a mistake or additional information, an additional fee may not be charged.
If the estoppel is requested to be delivered in a rush (within three business days after the request), the association may charge an additional fee of $100.
If a delinquent amount is owed to the association for the applicable property, an additional fee for the estoppel certificate may not exceed $150.
The amount of the estoppel fee must be designated by the board in a written resolution or stated in a contract.
If the estoppel is requested in connection with the sale of the property and the transaction does not close, the association must return the fee. The refund is the obligation of the owner of the property, and the association may collect it from that owner in the same manner as an assessment.
If estoppel certificates for multiple properties owned by the same owner are simultaneously requested from the same association and there are no past due monetary obligations owed to the association, the statement of moneys due for those properties may be delivered in one or more estoppel certificates, and the total fee that the association may charge for the preparation and delivery of the estoppel certificates may not exceed in the aggregate: for 25 or fewer units $750; for 26 to 50 units $1,000, for 51 to 100 units $1,500 and for more than 100 units $2,500.
Certificate Contents
The estoppel certificate must contain the following information and must be substantially in the following form: