Have you heard the news?! Florida recently passed a new bill limiting what Condo Associations, Community Associations and HOA’s can charge for an estoppel certificate. The Estoppel Bill SB 398 is effective as of July 1, 2017, and will limit and regulate the following processes:
- Fee Cap: Caps on the fees an association can charge for the estoppel certificate
- The Right to Reimbursement: File did not close? You may be entitled to a refund on advanced fees
- Timing: Associations must respond within a certain time or the estoppel will be free, and the expiration date of the certificate is now a regulated timeframe. No more receiving expired estoppels!
- Buying in Bulk? A limit has been placed on how much you can be charged.
If you have any questions about estoppels, or would like to request one, please contact us at email@example.com!