Attorneys’ Title Fund Services, LLC. reports that
“on June 14, 2017, the Governor signed Senate Bill (“SB”) 398, which we all affectionately call the “Estoppel bill.” Effective July 1, 2017, the new law makes substantial changes to all three of Florida’s primary community association statutes – chapter 718, F.S. (condominiums); chapter 719, F.S. (cooperatives); and chapter 720, F.S. (homeowners’ associations).
The new law provides mandatory detailed content for association estoppel certificates and provides that the certificate shall be issued by the association within 10 business days after receipt of the written or electronic request for it. We are working on a sample form to distribute to you which tracks the language of the new statute. The certificate is valid for 30 days if provided via hand delivery or by electronic means – 35 days if provided by regular mail.
Of particular import, the association may not collect sums beyond the amounts specified in the estoppel certificate from anyone who relies on the certificate in good faith.
Associations may charge up to $250.00 for an estoppel certificate if no delinquent amounts are owed. If delinquent amounts are owed to the association, up to $150.00 extra may be charged. When certificates are requested to be provided within 3 business days, a $100.00 additional fee is also allowed. No fee may be charged by the association if the estoppel certificate is delivered to the person who requested it more than 10 business days after receipt of the request.”