Florida Community Association Manager Practice Exam

What is the time frame for an association to issue an estoppel certificate after receiving a request?

1. 5 business days

2. 10 business days

3. 3 business days

4. 1 week

The correct answer is: 10 business days

An association has a specific obligation when it comes to issuing an estoppel certificate, which is vital for confirming the status of assessments and other financial obligations related to a property. In Florida, the law mandates that when an association receives a request for an estoppel certificate, it must respond within a defined time frame. The correct answer indicates that the association must issue this certificate within 10 business days after receiving the request. This time frame ensures that the process remains efficient and that parties involved, such as potential buyers or lenders, have timely access to vital information concerning the property. The estoppel certificate serves as a declaration of the financial status of a unit within the community association, and timely issuance helps facilitate real estate transactions and financial decisions. Recognizing the importance of this time frame helps ensure compliance with Florida regulations and protects the interests of both the association and its members.