Buying or selling a home

Estoppel certificates

An estoppel certificate is the Association’s written statement of the amounts owed on a home, such as assessments, as of the date it is issued. Title companies and closing agents usually request one before a sale closes.

What Florida law requires

Estoppel certificates from homeowners’ associations are governed by section 720.30851, Florida Statutes. In summary:

• Who may request one: the owner or the owner’s designee (for example a title company or closing agent), or a mortgage holder or its designee.
• The request must be in writing or sent electronically.
• The Association must issue the certificate within 10 business days after it receives the request. If it does not, it may not charge a fee for that certificate.
• A certificate delivered by hand or electronically is effective for 30 days; one sent by regular mail, for 35 days.
• Fees are capped by the statute, and the caps are adjusted for inflation every five years. Read the statute for the current limits.

The statute prevails. This is a summary. Read section 720.30851 for the exact requirements and the current fee limits.

Requesting a certificate

Contact the board to request an estoppel certificate or to find out who handles requests: pennockpointeestates@gmail.com

What buyers should read

Every owner is bound by the Association’s governing documents. Before you commit to a purchase, read:

• PDF Declaration of Covenants and Restrictions and Initial Rules The CC&Rs and the community rules. They run with the property and bind every owner. Open Declaration of Covenants and Restrictions and Initial RulesPDF of Declaration of Covenants and Restrictions and Initial RulesDownload original PDF: Declaration of Covenants and Restrictions and Initial Rules
• PDF Articles of Incorporation How the Association is organized. Open Articles of IncorporationPDF of Articles of IncorporationDownload original PDF: Articles of Incorporation

• Architectural reviewChanges to a home or lot need committee approval first; some common projects are pre-approved.
• All documentsForms, minutes and notices.

Good to know

• The Homeowners Association owns the lakes, the land around them, and the road.
• The Declaration requires each owner to insure their home and other improvements on the lot for their full replacement value (see the Insurance article).

Florida law also requires a disclosure summary for buyers of a home in a homeowners’ association. Ask your real estate agent or closing attorney about it. Section 720.401, Florida Statutes.

Who to contact