Bill > SB2644

This bill establishes new regulations for homeowners associations (HOAs) and their management companies regarding the fees they can charge for providing an "estoppel certificate," which is a document verifying that a property owner has paid all their assessments and owes no outstanding fees to the HOA. The bill mandates that HOAs must issue these certificates within ten business days of a written or electronic request from a property owner, their designee, or a mortgage lender, and must designate a contact person or entity on their website for such requests. The certificate must include specific details about the property, the owner, and the status of assessments, including any delinquent amounts and future scheduled payments. While HOAs can charge a reasonable fee for preparing and delivering an estoppel certificate, this fee is capped at $200 if no assessments are delinquent, with an additional $50 fee allowed for expedited service within three business days, and a further $100 cap if there are delinquent amounts. For situations involving multiple parcels owned by the same owner, the total fee for preparing multiple certificates is capped based on the number of parcels, ranging from $500 for up to 25 parcels to $2,500 for over 100 parcels. The bill also states that if an HOA fails to deliver the certificate within the ten-business-day timeframe, no fee can be charged for it, and if a sale or refinancing for which a certificate was issued does not occur, the fee must be refunded within 30 days of a documented request. Furthermore, if an HOA provides an estoppel certificate with incorrect information and a buyer or lender relies on it in good faith, the HOA waives its right to collect any amounts exceeding what was stated in the certificate. The bill also allows for legal action to compel compliance, with the prevailing party recovering attorney fees.

Government Affairs

https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2644.xml