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What is an estoppel in a real estate transaction?

What Is an Estoppel Certificate? A tenant estoppel certificate is a binding document that clarifies the current status and terms of the lease agreement between a landlord and a tenant for a prospective purchaser of property. Another name for a tenant estoppel certificate is a tenant estoppel letter.

Who pays the HOA estoppel fee in Florida?

Both the buyer and seller are jointly responsible for the default fees, and payments incurred before a lease transfer is added to a buyer's closing cost. As defined by Florida Statute 720.30851, once a request for an estoppel letter has been made, the HOA must deliver the document to the requested party within 15 days.

Who is responsible for estoppel in Florida?

(1) An estoppel certificate may be completed by any board member, authorized agent, or authorized representative of the association, including any authorized agent, authorized representative, or employee of a management company authorized to complete this form on behalf of the board or association.

What is a condominium unit?

condominium, in modern property law, the individual ownership of one dwelling unit within a multidwelling building, with an undivided ownership interest in the land and other components of the building shared in common with other owners of dwelling units in the building.

What is an estoppel certificate fee?

Estoppel Certificate the condo can charge the owner a fee of up to $200 for this certificate. The unit owner can provide a potential buyer with the certificate.

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