Special Assessments When a Unit Is Sold

First establish what has actually happened

Ask for the assessment notice, authorizing decision, purpose, total for the unit, payment schedule, amounts already paid, and outstanding balance. Distinguish an approved assessment from a proposal or a repair being discussed. Record the information date and ask about updates before closing.

Also ask about association loans and future projects. A loan payment included in regular charges and a separately levied assessment are different items to understand.

Keep the association’s account and the sale agreement separate

Have the closing adviser compare the association’s account with the buyer–seller contract. A private agreement allocating a cost does not by itself rewrite the association’s collection rights. §718.116 addresses owner liability and estoppel; exceptions and transaction-specific questions require professional review.

Ask whether the agreement requires a payoff, allocates future installments, provides a credit, or needs an amendment. Check whether a payment schedule or loan has a sale-triggered requirement. Get the interpretation from the governing records and contract, not a verbal assumption.

A simple example: questions to resolve

Illustration only: A unit has a $6,000 assessment, payable in twelve $500 installments. Four installments have been paid; eight remain, totaling $4,000. Closing is approaching. This arithmetic does not decide which party pays.

Ask the closing adviser: Does the contract require the seller to pay the remaining balance, leave future installments to the buyer, or use another agreed arrangement? What does the association require at transfer? Where will the allocation appear on the closing statement? What happens if an additional assessment is approved before closing?

Use the estoppel for its actual purpose

The statutory estoppel provides specified account and association information. Have the closing agent obtain and review a current certificate and resolve discrepancies before relying on it. A statutory estoppel request has a 10-business-day issuance requirement under §718.116(8); plan ahead and have the agent check its effective period.

An estoppel is not a forecast of every future repair or assessment. Review current notices and project discussions separately. Reconcile recreation and other community balances through the appropriate parties rather than assuming one certificate covers every obligation.

Before the figures are final

• Assessment records and ledger agree.
• Contract allocation has been explained in writing.
• Closing statement reflects the agreed treatment.
• Current estoppel and any required updates have been reviewed.
• Separate community charges have been checked.
• Buyer understands the payment schedule after closing.