Within how many days after receipt of a written request must the holder of a mortgage deliver an estoppel letter?

Within how many days after receipt of a written request must the holder of a mortgage deliver an estoppel letter?

• A. 10 days
• B. 14 days
• C. 30 days
• D. 45 days

Answer: (B)

The requirement that the holder of a mortgage must deliver an estoppel letter within 14 days after receiving a written request is codified in Florida law. An estoppel letter is a crucial document that provides information about the mortgage, including the amount due, interest rate, and any outstanding payments. This letter is often requested during real estate transactions, as it helps to clarify the status of the mortgage and ensures that all parties are informed about any financial obligations tied to the property. Timely delivery of the estoppel letter is vital to facilitate smooth transactions and prevent delays. The 14-day timeframe is intended to ensure that sellers, buyers, and lenders have access to the most current and accurate information regarding the mortgage, which can influence decisions during the transaction process. Understanding this timeframe is essential for anyone working in real estate or involved in property transactions in Florida, as it underscores the importance of communication and verification in title insurance and mortgage handling.

The requirement that the holder of a mortgage must deliver an estoppel letter within 14 days after receiving a written request is codified in Florida law. An estoppel letter is a crucial document that provides information about the mortgage, including the amount due, interest rate, and any outstanding payments. This letter is often requested during real estate transactions, as it helps to clarify the status of the mortgage and ensures that all parties are informed about any financial obligations tied to the property.

Timely delivery of the estoppel letter is vital to facilitate smooth transactions and prevent delays. The 14-day timeframe is intended to ensure that sellers, buyers, and lenders have access to the most current and accurate information regarding the mortgage, which can influence decisions during the transaction process. Understanding this timeframe is essential for anyone working in real estate or involved in property transactions in Florida, as it underscores the importance of communication and verification in title insurance and mortgage handling.