The Summer Heat is Rising and So Are Estoppel Fees!

Posted by Ryan Featherstone on Wednesday Jul 27, 2022 8:01 pm

 

Authored By: Ryan A. Featherstone, Esq. rfeatherstone@dunlapmoran.com 

As we are all aware, since July 1, 2017, fees for the preparation and delivery of estoppel certificates from condominiums, cooperatives and homeowners’ associations have been capped per Florida Statute at $250 for standard delivery (within 10 business days), and an additional $100 for rush fees (within 3 business days).

However, the statutes require that the fees be adjusted every 5 years in an amount equal to the total of the annual increases for that 5-year period in the Consumer Price Index for All Urban Consumers, U.S. City Average, All Items.  The statutes further provide that the Department of Business and Professional Regulation (DBPR) shall periodically calculate the fees, rounded to the nearest dollar, and publish the amounts, as adjusted, on its website. 

In accordance with its statutory duties, the DBPR has revised the authorized fees for estoppel certificates effective July 1, 2022.  The new fees are provided below.  The next published update will be released July 1, 2027.

Updated Fee Schedule:

1)      Preparation and delivery of estoppel certificate                                 

           Fee: not more than $299                                                                                                  

           *$250 prior to 7/1/22

 

2)      Rush estoppel (within 3 business days)                                             

           Fee: an additional $119                                                                                                              

           *$100 prior to 7/1/22

 

3)      If the unit/parcel is delinquent to the association                              

           Fee: an additional $179                                                                                                               

           *$150 prior to 7/1/22

 ** Different fees apply if the seller is selling multiple units/parcels subject to the same association (see Section 720.30851, Florida Statutes for more information)

 

This blog is intended for informational purposes only and it is not intended to be, nor should it be construed as, legal advice or legal opinion.  The reader should not consider this information to be an invitation to an attorney/client relationship, should not rely on information presented here for any purpose, and should always seek the legal advice of counsel in the appropriate jurisdiction.

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