Does the three-day cancellation period for condominium resales run from contract execution or document delivery?

From document delivery. Under §718.503(2), the three-business-day cancellation period runs from the date the buyer receives the required association documents (declaration, bylaws, financial statement, governance form, etc.). If documents are delivered before contract execution, the period may run earlier or even close before the contract is signed; if delivered after execution, the contract remains voidable until the period closes.

Can an HOA force a homeowner to sell for covenant violations?

Generally no, but the association can record liens for unpaid fines and assessments, which can ultimately be foreclosed under Fla. Stat. §720.3085. The foreclosure remedy is real — an HOA can foreclose on the home for sufficiently large unpaid assessments — but is distinct from the more direct enforcement remedies (injunctions, fines, mandated compliance) used for non-monetary covenant violations.

What triggers a Phase Two milestone inspection?

The Phase One visual inspection's identification of "substantial structural deterioration" under Fla. Stat. §553.899. If Phase One identifies such deterioration, Phase Two requires intrusive inspection (opening walls, ceilings, slabs as needed) to evaluate the extent of damage and determine remedial requirements. Phase Two findings can produce major special assessments to fund the required repairs.

Can a condominium association reduce or waive SIRS-driven reserve funding?

Not for budgets adopted on or after December 31, 2024. Pre-Surfside reform allowed unit owners to vote to waive or reduce reserves; that flexibility is now eliminated for the major structural components covered by the SIRS. Associations may still waive or reduce reserves for non-SIRS items (lawn equipment, pool furniture, etc.) by unit-owner vote.

How long does an association have to deliver an estoppel certificate?

Ten business days from request under Fla. Stat. §718.116(8) for condominiums and §720.30851 for HOAs. The certificate is valid for 30 days when delivered electronically or 35 days when delivered by mail, after which a new certificate must be obtained. Fee caps apply by statute.

Are HOA disclosure summaries required for builder/developer initial sales or only for resales?

Required for both initial sales and resales of properties in HOA communities under Fla. Stat. §720.401. The summary must include specific statutory language warning buyers about the binding nature of the recorded covenants and the assessment obligation. Failure to deliver the summary makes the contract voidable by the buyer prior to closing.

Florida HOA, Condominium, and Cooperative Law: Resale, Estoppel, and Post-Surfside Reforms

TL;DR

Florida governs three distinct community-association regimes under three separate chapters of the Florida Statutes: condominiums under Chapter 718, cooperatives under Chapter 719, and homeowners' associations under Chapter 720. The three regimes differ in ownership structure (fee simple vs share-ownership), governance intensity (heavy condo regulation, lighter HOA regulation), pre-purchase disclosure requirements, and statutory rescission rights. Since the Surfside Champlain Towers South collapse in 2021, condominium law has been reshaped by SB 4-D (2022) and SB 154 (2023) imposing milestone structural inspection requirements and Structural Integrity Reserve Study mandates. Licensees handling community-association transactions must navigate the three statutory regimes plus the broader seller disclosure framework under §689.25 and §689.302.

Three governance regimes, three statutory frameworks

Florida's community-association law operates through three parallel statutes. Each governs a distinct ownership and governance model, though the three frequently produce confusion among buyers and even practitioners who treat all common-interest communities as functionally equivalent.

Chapter 718 governs condominiums — the most heavily regulated of the three regimes, with detailed statutory requirements for declarations, association governance, board operations, common-element maintenance, financial reporting, and milestone safety inspections. Chapter 720 governs homeowners' associations — communities of individually-owned lots subject to recorded covenants, conditions, and restrictions (CC&Rs) administered by an association, with comparatively lighter statutory regulation. Chapter 719 governs cooperatives — a relatively rare share-ownership model where residents own shares in a cooperative corporation rather than fee-simple title to a unit, and the cooperative corporation owns the underlying real estate.

Chapter 718 — Condominiums

The condominium is a creature of statute. The declaration of condominium (recorded in the public records) creates the condominium, defines the units, identifies the common elements (hallways, elevators, structural components, exterior walls), and establishes the unit-owner percentages of common-element ownership. Each unit owner holds fee-simple title to the unit's interior airspace plus an undivided fractional interest in the common elements, with use rights governed by the declaration and bylaws.

The condominium association is a nonprofit corporation whose members are the unit owners. The board of directors administers the association's day-to-day affairs, with major decisions (assessments above specified levels, capital projects, amendment of declaration) typically requiring unit-owner approval. Fla. Stat. §718.111 governs board operations and officer duties; §718.112 governs bylaws; §718.115 governs common expenses and assessments.

Resale disclosure is governed by Fla. Stat. §718.503. A condominium unit being resold must be accompanied by a current copy of the declaration, articles of incorporation, bylaws, rules, the most recent year-end financial statement, and a governance form. New condominium sales (from the developer) include a 15-day cancellation period under §718.503(1); resales between unit owners include a three-business-day cancellation period under §718.503(2) running from receipt of the required documents.

Chapter 720 — Homeowners' Associations

HOAs are less heavily regulated than condominiums. The HOA framework rests on recorded covenants — the declaration of covenants, conditions, and restrictions — that bind successor owners of lots within the development. The association administers the covenants, levies assessments for common-area maintenance and amenities, and exercises enforcement authority over violations.

Unit ownership in an HOA is fundamentally different from condominium ownership. HOA lot owners hold fee-simple title to their entire lot — house, land, and underlying real estate — without the airspace-and-common-elements structure of condominiums. The association owns and maintains common areas (entry features, amenities, sometimes private roads), and enforces architectural and use restrictions.

Resale disclosure is governed by Fla. Stat. §720.401. Sellers must deliver to buyers a disclosure summary describing membership obligations, assessments, and the existence of recorded restrictions before the contract is executed. If the required HOA disclosure summary is not provided before contract execution, the contract is voidable by the buyer before closing. Unlike the condominium and cooperative resale statutes, HOA law does not create a separate three-business-day cancellation period after document delivery — once the disclosure is properly provided pre-execution and the contract signed, the buyer is bound subject to other contingencies.

Chapter 719 — Cooperatives

Cooperatives are the least common of the three regimes in Florida. The cooperative model uses a cooperative corporation that owns the underlying real estate; residents own shares in the corporation rather than fee-simple title to a unit. Each share package carries the right to occupy a specific unit under a proprietary lease from the corporation. The result is functionally similar to condominium living — residents have unit-level use rights and pay periodic assessments — but the legal form of ownership is share-ownership in a corporation rather than fee-simple ownership of real estate.

Chapter 719 governs cooperative formation, governance, and resale. Cooperative resale disclosure under §719.503 parallels the condominium framework with a three-business-day cancellation period and required document delivery, but the practical incidence is limited by the small number of cooperative properties in Florida outside specific historical markets (parts of Miami Beach, Sarasota, and a few other concentrated areas).

Post-Surfside reforms — milestone inspections and SIRS

The June 2021 collapse of Champlain Towers South in Surfside produced significant statutory reform. SB 4-D (2022, Ch. 2022-269) and SB 154 (2023, Ch. 2023-203) imposed milestone structural inspection requirements and Structural Integrity Reserve Study (SIRS) mandates on Florida condominium buildings.

Milestone inspections under Fla. Stat. §553.899 apply to condominium and cooperative buildings three or more stories in height. The baseline initial milestone inspection is required by the 30th anniversary of the building's certificate of occupancy. A local enforcement agency may require an earlier 25-year initial milestone inspection based on local circumstances, including environmental conditions such as proximity to salt water. Subsequent recertification inspections are required every 10 years. The inspection must be conducted by a licensed architect or engineer, and Phase Two intrusive inspections are triggered if the Phase One visual inspection identifies "substantial structural deterioration."

Structural Integrity Reserve Studies apply to covered condominium and cooperative buildings three or more stories in height every 10 years, under parallel provisions of Fla. Stat. Ch. 718 (condominiums) and Ch. 719 (cooperatives). The SIRS identifies major structural components (roof, load-bearing walls, foundations, floor structures, plumbing, electrical, waterproofing, etc.) and estimates the remaining useful life and cost to replace each. Reserves must be funded for these components — associations cannot waive or reduce SIRS-driven reserve funding starting with budgets adopted on or after December 31, 2024.

The SIRS funding requirement has produced substantial assessment increases in many older Florida condominium buildings, particularly along the coast, as reserves that were historically underfunded must be brought up to statutory adequacy. Special assessments to fund deferred maintenance identified by milestone inspections are a major source of buyer due-diligence concern in current Florida condominium transactions.

Estoppel certificates

An estoppel certificate is a written statement from the community association certifying the seller's assessment status as of a specified date. Fla. Stat. §718.116(8) (condominiums) and §720.30851 (HOAs) govern estoppel certificate procedures, content, and fees. The association must provide the certificate within 10 business days of request and is "estopped" from later claiming amounts due that were not disclosed in the certificate.

Estoppel certificates are essential closing documents. They identify any past-due assessments, special assessments adopted but not yet billed, and amounts the seller must bring current to deliver clear title (assessments create automatic association liens). Title agents and closing attorneys obtain and rely on estoppel certificates to verify that no association lien will survive closing. Fee caps for estoppel certificates are set by statute — currently $299 standard, with additional fees for expedited delivery, delinquent accounts, or multiple-unit ownership.

Disclosure comparison

The three statutory regimes apply different disclosure rules with different rescission consequences. Condominium resales under §718.503 require complete association document package delivery and provide a three-business-day buyer cancellation right running from document receipt — the contract is voidable until then. Cooperative resales under §719.503 follow the same three-business-day cancellation framework. HOA resales under §720.401 require disclosure summary delivery before contract execution but do not provide a statutory cancellation period after disclosure — once delivered and the contract executed, the buyer is bound.

The cancellation-period differential is one of the most-tested exam points. Buyers in a condominium or cooperative transaction have a statutory walk-away beyond the inspection period; buyers in an HOA transaction do not — they must rely on the contractual inspection period for due-diligence termination.

Licensee CE and CAM regulation

Real estate licensees handling community-association sales must understand the disclosure mechanics but are not necessarily Community Association Managers (CAMs). CAMs are separately licensed under Fla. Stat. Ch. 468 Part VIII and regulated by DBPR. Licensees who hold both real estate and CAM licenses must complete the CE requirements for both — see our guide to Florida real estate license renewal and continuing education for the CE framework on the real estate side. The two regulatory frameworks operate independently — DBPR oversees both, but through different divisions and rules.

Frequently Asked Questions

Does the three-day cancellation period for condominium resales run from contract execution or document delivery?: From document delivery. Under §718.503(2), the three-business-day cancellation period runs from the date the buyer receives the required association documents (declaration, bylaws, financial statement, governance form, etc.). If documents are delivered before contract execution, the period may run earlier or even close before the contract is signed; if delivered after execution, the contract remains voidable until the period closes.
Can an HOA force a homeowner to sell for covenant violations?: Generally no, but the association can record liens for unpaid fines and assessments, which can ultimately be foreclosed under Fla. Stat. §720.3085. The foreclosure remedy is real — an HOA can foreclose on the home for sufficiently large unpaid assessments — but is distinct from the more direct enforcement remedies (injunctions, fines, mandated compliance) used for non-monetary covenant violations.
What triggers a Phase Two milestone inspection?: The Phase One visual inspection's identification of "substantial structural deterioration" under Fla. Stat. §553.899. If Phase One identifies such deterioration, Phase Two requires intrusive inspection (opening walls, ceilings, slabs as needed) to evaluate the extent of damage and determine remedial requirements. Phase Two findings can produce major special assessments to fund the required repairs.
Can a condominium association reduce or waive SIRS-driven reserve funding?: Not for budgets adopted on or after December 31, 2024. Pre-Surfside reform allowed unit owners to vote to waive or reduce reserves; that flexibility is now eliminated for the major structural components covered by the SIRS. Associations may still waive or reduce reserves for non-SIRS items (lawn equipment, pool furniture, etc.) by unit-owner vote.
How long does an association have to deliver an estoppel certificate?: Ten business days from request under Fla. Stat. §718.116(8) for condominiums and §720.30851 for HOAs. The certificate is valid for 30 days when delivered electronically or 35 days when delivered by mail, after which a new certificate must be obtained. Fee caps apply by statute.
Are HOA disclosure summaries required for builder/developer initial sales or only for resales?: Required for both initial sales and resales of properties in HOA communities under Fla. Stat. §720.401. The summary must include specific statutory language warning buyers about the binding nature of the recorded covenants and the assessment obligation. Failure to deliver the summary makes the contract voidable by the buyer prior to closing.

Bottom Line

Florida governs three distinct community-association regimes under Chapters 718 (condominiums), 719 (cooperatives), and 720 (HOAs), each with its own ownership structure, governance framework, disclosure requirements, and post-disclosure rescission rights. Post-Surfside reforms have substantially reshaped condominium law with milestone inspection mandates and SIRS-driven reserve requirements that are producing significant assessment increases. Estoppel certificates and proper community-association document delivery are essential closing mechanics. For the broader licensee-compliance framework wrapping these transactions, see our guide to Florida seller property disclosure requirements. For the full exam blueprint and the other Florida-specific topics you'll need to know, see our Florida real estate exam complete guide.

Source: Fla. Stat. Ch. 718 — Condominiums · Fla. Stat. §553.899 — Milestone Inspections · FL DBPR — Division of Condominiums, Timeshares, and Mobile Homes