Florida Condo Assessments: Fla. Stat. 718.116

What the law covers

• A unit owner is liable for all assessments that come due while the owner holds title, including a buyer at a foreclosure sale or by deed in lieu of foreclosure.
• A unit owner is jointly and severally liable with the previous owner for unpaid assessments that came due up to the transfer of title.
• Liability for assessments cannot be avoided by waiving use of common elements or abandoning the unit.
• The association has a lien on each condominium parcel to secure payment of assessments.
• The association may foreclose the lien or sue for a money judgment and may recover reasonable attorney's fees.
• Special assessments must be for a specific purpose stated in a written notice sent or delivered to each unit owner.

Key requirements and limits

• Interest on unpaid assessments: if the declaration provides no rate, interest accrues at the rate of 18 percent per year from the due date until paid.
• Late fee: up to the greater of $25 or 5 percent of each delinquent installment.
• Payments are applied first to interest, then to late fees, then to collection costs and reasonable attorney fees, then to the delinquent assessment.
• A first mortgagee's liability for pre-acquisition assessments is limited to the lesser of 12 months of unpaid common expenses and regular periodic assessments or 1 percent of the original mortgage debt, if the mortgagee joined the association in the foreclosure action.
• A first mortgage recorded before April 1, 1992 may be exempt from liability for unpaid assessments that came due before acquisition.
• Estoppel certificate fee: not more than $250 if no delinquent amounts are owed; expedited delivery within 3 business days may add up to $100; if delinquent amounts are owed, an additional fee may not exceed $150.
• Aggregate estoppel fees for multiple units: $750 for 25 or fewer units; $1,000 for 26 to 50 units; $1,500 for 51 to 100 units; $2,500 for more than 100 units.

Notice, hearing and deadlines

• The person acquiring title must pay the amount owed to the association within 30 days after transfer of title.
• A claim of lien is not effective 1 year after recording unless an action to enforce it is commenced within that time.
• After a notice of contest of lien is served, the association has 90 days to file an action to enforce the lien; if it does not, the lien is void.
• No foreclosure judgment may be entered until at least 45 days after the association gives written notice of its intention to foreclose.
• The association must issue an estoppel certificate within 10 business days after receiving a written or electronic request.
• An estoppel certificate delivered by hand or electronic means has a 30-day effective period; by regular mail, 35 days.
• If the association fails to deliver an estoppel certificate within 10 business days, a fee may not be charged for it.

Practical checklist for homeowners

• The association's governing documents and later amendments may also apply.
• Read your governing documents.
• Keep copies of notices and payment records.
• Check the official text for updates.
• Review any estoppel certificate carefully for amounts and deadlines.