THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: FL2022001
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Bulletin: FL2022001
Dear Associates:
The Florida Department of Business and Professional Regulation (DBPR) made its first adjustment to the maximum charges permissible for the preparation and delivery of estoppel certificates by condominium or homeowners’ associations. The permissible charge for routine requests has increased to $299.00 from the existing maximum of $250.00. Associations may now charge an additional $119.00 for requests on an expedited basis and an additional $179.00 may be charged when there is a delinquency owed to an association.
These adjustments were made pursuant to Section 718.116(8)(f) of the Condominium Act and Section 720.38501(6) which allow DBPR to adjust the allowable maximum charges every five years. This was the first adjustment since the law was adopted in 2017. The next adjustment is scheduled for July 1, 2027.
A copy of the new schedule available on the DBPR website is attached.
For more information on the subject, please check: http://www.myfloridalicense.com/DBPR/condominiums-and-cooperatives/
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References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None