estoppel - Grandin Lake Shores

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If the fee for the estoppel is not spelled out in the governing documents, then a fee can’t be charged. The past president and treasurer were aware of this and there was no charge for an estoppel. The current Governing Documents, recorded with the State and County, do not mention estoppels. We also believe a member should not be charged, especially when the member is buying the property from this HOA. The information on an estoppel can be obtained by any member thru a Document Inspection Request as stated in the Statutes.

There’s More…………

The July 2024 treasurers Report shows estoppel certificates were issued for five properties. The income shown for those certificates was $90. If they had known about the Florida Statute pertaining to estoppels and applied it (after amending the recorded Bylaws, not ignoring them) that $90 could have been $1495 or more, depending on the circumstances. Giving a discount is fine, but 94% off is a bit much. The Statute includes a provision allowing the adjustment of fees every five years based on the Consumer Price Index. The above figures are from the 2022 adjustment. The next fee adjustment is expected in 2027.
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