Post by Admin on Mar 11, 2014 9:53:59 GMT -5
720.30851 Estoppel certificates.—
Within 15 days after the date on which a request for an estoppel certificate is received from a parcel owner or mortgagee, or his or her designee, the association sH all provide a certificate signed by an officer or authorized agent of the association stating all assessments and other moneys owed to the association by the parcel owner or mortgagee with respect to the parcel. An association may charge a fee for the preparation of such certificate, and the amount of such fee must be stated on the certificate.
(1) Any person other than a parcel owner who relies upon a certificate receives the benefits and protection thereof.
(2) A summary proceeding pursuant to s. 51.011 may be brought to compel compliance with this section, and the prevailing party is entitled to recover reasonable attorney’s fees.
(3) The authority to charge a fee for the certificate sH all be established by a written resolution adopted by the board or provided by a written management, bookkeeping, or maintenance contract and is payable upon the preparation of the certificate. If the certificate is requested in conjunction with the sale or mortgage of a parcel but the closing does not occur and no later than 30 days after the closing date for which the certificate was sought the preparer receives a written request, accompanied by reasonable documentation, that the sale did not occur from a payor that is not the parcel owner, the fee sH all be refunded to that payor within 30 days after receipt of the request. The refund is the obligation of the parcel owner, and the association may collect it from that owner in the same manner as an assessment as provided in this section.
Editor's Note: "Estoppel" is a legal term that prevents a party in a transaction from contradicting or reneging on an agreement to the detriment of the other party. In the context of real estate, it simply means "As of this date, there is a claim on this property of $xxx." The estoppel letter(s) are usually provided by the Bank (for an outstanding mortgage) and/or by the HOA (for outstanding fees) to the closing agent so the title company has the amount for preparing the settlement. This also states that is SLohA provides an estoppel letter (which it must do if asked), they can charge a fee ONLY IF they have a previously-documented resolution on file.
Disclaimer: I am not an attorney and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you are contemplating legal action. Consult an attorney for legal advice.
Within 15 days after the date on which a request for an estoppel certificate is received from a parcel owner or mortgagee, or his or her designee, the association sH all provide a certificate signed by an officer or authorized agent of the association stating all assessments and other moneys owed to the association by the parcel owner or mortgagee with respect to the parcel. An association may charge a fee for the preparation of such certificate, and the amount of such fee must be stated on the certificate.
(1) Any person other than a parcel owner who relies upon a certificate receives the benefits and protection thereof.
(2) A summary proceeding pursuant to s. 51.011 may be brought to compel compliance with this section, and the prevailing party is entitled to recover reasonable attorney’s fees.
(3) The authority to charge a fee for the certificate sH all be established by a written resolution adopted by the board or provided by a written management, bookkeeping, or maintenance contract and is payable upon the preparation of the certificate. If the certificate is requested in conjunction with the sale or mortgage of a parcel but the closing does not occur and no later than 30 days after the closing date for which the certificate was sought the preparer receives a written request, accompanied by reasonable documentation, that the sale did not occur from a payor that is not the parcel owner, the fee sH all be refunded to that payor within 30 days after receipt of the request. The refund is the obligation of the parcel owner, and the association may collect it from that owner in the same manner as an assessment as provided in this section.
Editor's Note: "Estoppel" is a legal term that prevents a party in a transaction from contradicting or reneging on an agreement to the detriment of the other party. In the context of real estate, it simply means "As of this date, there is a claim on this property of $xxx." The estoppel letter(s) are usually provided by the Bank (for an outstanding mortgage) and/or by the HOA (for outstanding fees) to the closing agent so the title company has the amount for preparing the settlement. This also states that is SLohA provides an estoppel letter (which it must do if asked), they can charge a fee ONLY IF they have a previously-documented resolution on file.
Disclaimer: I am not an attorney and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you are contemplating legal action. Consult an attorney for legal advice.