HB 335 2022
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to satisfaction of mortgages; amending 2
s. 701.04, F.S.; requiring a mortgagee or servicer of 3
a mortgage to send or cause to be sent an estoppel 4
letter with specified information to certain persons 5
within a specified time; requiring a copy o f the 6
instrument showing title in the property or other 7
lawful authorization under certain circumstances; 8
providing requirements for an estoppel letter; 9
prohibiting certain actions by the mortgagee or 10
servicer of the mortgage; authorizing a corrected 11
estoppel letter under certain circumstances; providing 12
that a corrected estoppel letter supersedes any 13
previous estoppel letter under certain circumstances; 14
prohibiting the mortgagee or servicer of the mortgage 15
from denying the accuracy of an estoppel letter; 16
requiring payments received pursuant to an estoppel 17
letter to be applied to any unpaid balance of a 18
mortgage; providing methods for sending a written 19
request for an estoppel letter and for sending the 20
estoppel letter; providing that the mortgagee or 21
servicer of the mortgage is not responsible for the 22
costs of a common carrier delivery service; providing 23
for liability under certain circumstances; authorizing 24
certain damages and attorney fees and costs; 25
HB 335 2022
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
prohibiting punitive damages; requiring the mortgagee 26
or servicer of the mortgage to take certain actions 27
within a specified time after the unpaid balance of a 28
mortgage has been fully paid; providing that certain 29
persons may still be personally liable after recording 30
a satisfaction of a mortgage; amending s. 701 .041, 31
F.S.; revising a definition; conforming provisions to 32
changes made by the act; providing an effective date. 33
34
Be It Enacted by the Legislature of the State of Florida: 35
36
Section 1. Section 701.04, Florida Statutes, is amended to 37
read: 38
701.04 Cancellation of mortgages, liens, and judgments. — 39
(1)(a) Within 10 14 days after receipt of the written 40
request of a mortgagor, a record title owner of the property, a 41
fiduciary or trustee lawfully acting on behalf of a record title 42
owner, or any other p erson lawfully authorized to act on behalf 43
of a mortgagor or record title owner of the property, the 44
mortgagee holder of a mortgage shall deliver or cause the 45
servicer of the mortgage shall send or cause to be sent to 46
deliver to the person making the reque st at a place designated 47
in the written request an estoppel letter setting forth the 48
unpaid balance of the loan properly due under or secured by the 49
mortgage as of the payoff date specified in the written request . 50
HB 335 2022
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
If the written request is made by a person other than the 51
mortgagor, the request must include a copy of the instrument 52
showing title in the property or other lawful authorization. 53
(a) If the mortgagor, or any person lawfully authorized to 54
act on behalf of the mortgagor, makes the request, the es toppel 55
letter must include an itemization of the principal, interest, 56
and any other charges properly due under or secured by the 57
mortgage and interest on a per -day basis for the unpaid balance. 58
(b) If a record title owner of the property, or any person 59
lawfully authorized to act on behalf of a mortgagor or record 60
title owner of the property, makes the request: 61
1. The request must include a copy of the instrument 62
showing title in the property or lawful authorization. 63
2. The estoppel letter may include the itemization of 64
information required under paragraph (a), but must at a minimum 65
include: 66
1. The total unpaid balance of the loan properly due under 67
or secured by the mortgage as of the payoff date specified in 68
the written request, including an itemiza tion of the principal, 69
interest, and any other charges comprising the unpaid balance on 70
a per-day basis. 71
2. Interest on a per -day basis for the unpaid balance. 72
(c)1. The mortgagee or servicer of the mortgage may not 73
qualify, reserve the right to change , or condition or disclaim 74
the reliance of others on the information provided in the 75
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
estoppel letter under paragraph (b), and any attempt to do so is 76
void and unenforceable. However, if the mortgagee or servicer of 77
the mortgage determines that any of the i nformation provided in 78
the estoppel letter under paragraph (b) was understated, the 79
mortgagee or servicer of the mortgage may send a corrected 80
estoppel letter. 81
2. If the mortgagor or record title owner of the property, 82
or any other person lawfully author ized to act on behalf of the 83
mortgagor or record title owner of the property, receives and 84
has a reasonable opportunity to act upon a corrected estoppel 85
letter before making a payment, the corrected estoppel letter 86
supersedes any previous estoppel letter. 87
3. If any of the information provided in the estoppel 88
letter under paragraph (b) was understated, the mortgagee or 89
servicer of the mortgage may not deny the accuracy of such 90
information if a person reasonably and detrimentally relied on 91
that information. 92
(d)3. The mortgagee or servicer of the mortgage mortgagee 93
acting in accordance with a request in substantial compliance 94
with this subsection paragraph is expressly discharged from any 95
obligation or liability to any person on account of the release 96
of the requested information, other than the obligation to 97
comply with the terms of the estoppel letter. 98
(e) The mortgagee or servicer of the mortgage may n ot 99
refuse to accept or return any payment received in response to 100
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
an estoppel letter but must promptly apply such payment to the 101
unpaid balance of the loan properly due under or secured by the 102
mortgage. 103
(f)1. A written request for an estoppel letter unde r 104
paragraph (a) must be sent to the mortgagee or servicer of the 105
mortgage at the address made available by the mortgagee or 106
servicer of the mortgage for such purpose by first -class mail, a 107
common carrier delivery service, or e -mail or other electronic 108
format or facsimile. The written request is considered received 109
by the mortgagee or servicer of the mortgage: 110
a. Four days after the request, properly addressed with 111
postage prepaid for first -class delivery, is deposited with the 112
United States Postal Service ; 113
b. The day the request is delivered by a common carrier 114
delivery service; or 115
c. The day the request is sent by e -mail or other 116
electronic format or facsimile. 117
2. The mortgagee or servicer of the mortgage must send the 118
estoppel letter by first -class mail, a common carrier delivery 119
service, or e-mail or other electronic format or facsimile as 120
directed in the written request. However, the mortgagee or 121
servicer of the mortgage is not required to pay for a common 122
carrier delivery service. If the 10 -day period after a written 123
request is received by the mortgagee or servicer of the mortgage 124
ends on a Saturday, Sunday, or legal holiday, the estoppel 125
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
letter is considered timely if it is sent by the close of 126
business on the next business day. 127
(g) If a mortgagee or servicer of the mortgage does not 128
timely send the estoppel letter in compliance with this 129
subsection, the mortgagee or servicer of the mortgage is liable 130
to the mortgagor or record title owner of the property, or any 131
other person lawfully authorized to act on behalf of the 132
mortgagor or record title owner of the property, for actual 133
damages caused by such failure plus $500 in statutory damages. 134
Punitive damages may not be awarded in a civil action brought 135
under this paragraph. The prevailing party in a civil action 136
brought under this paragraph is entitled to reasonable attorney 137
fees and costs. 138
(h)(c) Notwithstanding s. 655.059, a mortgagee or servicer 139
of the mortgage holder may provide the financial information 140
required under this subsection to a person authorized under this 141
subsection to request the financial information notwithstanding 142
s. 655.059. 143
(2) Within 60 days after the unpaid balance on a mortgage 144
has been fully paid or has been paid pursuant to an estoppel 145
letter, whichever is earlier, the mortgagee or servicer of the 146
mortgage shall execute in writing an instrument acknowledging 147
satisfaction of the mortgage; have the instrument acknowledged, 148
or proven, and duly en tered in the official records of the 149
proper county; and send or cause to be sent the recorded 150
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
satisfaction to the mortgagor or record title owner of the 151
property. The recorded satisfaction of the mortgage does not 152
relieve the mortgagor or record title owne r of the property, or 153
their successors or assigns, from any personal liability on the 154
loan or other obligations secured by the mortgage. The 155
prevailing party in a civil action brought under this subsection 156
is entitled to reasonable attorney fees and costs. 157
(3)(2) Within 60 days after the unpaid balance Whenever 158
the amount of money due on a any mortgage, lien, or judgment has 159
been fully paid to the person or party entitled to the payment 160
thereof, the mortgagee, creditor, or assignee, or the attorney 161
of record in the case of a judgment, to whom the payment was 162
made, shall execute in writing an instrument acknowledging 163
satisfaction of the mortgage, lien, or judgment; and have the 164
instrument acknowledged, or proven, and duly entered in the 165
official records of the proper county; and. Within 60 days after 166
the date of receipt of the full payment of the mortgage, lien, 167
or judgment, the person required to acknowledge satisfaction of 168
the mortgage, lien, or judgment shall send or cause to be sent 169
the recorded satisfac tion to the person or party who has made 170
the full payment. In the case of a civil action arising out of 171
this section, The prevailing party in a civil action brought 172
under this subsection is entitled to reasonable attorney fees 173
and costs. 174
(4)(3) When Whenever a writ of execution has been issued, 175
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
docketed, and indexed with a sheriff and the judgment upon which 176
it was issued has been fully paid, it is the responsibility of 177
the party receiving payment to request, in writing, addressed to 178
the sheriff, return o f the writ of execution as fully satisfied. 179
Section 2. Paragraph (a) of subsection (1) and subsection 180
(2) of section 701.041, Florida Statutes, are amended to read: 181
701.041 Title insurer; mortgage release certificate. — 182
(1) DEFINITIONS.—For purposes of this section: 183
(a) "Estoppel letter" means a statement of the amount of: 184
1. The unpaid balance of a loan properly due under or 185
secured by a mortgage as of the payoff date specified in the 186
written request, including an itemization of the principal, 187
interest, and any other charges comprising the unpaid balance 188
properly due under or secured by the mortgage . 189
2. Interest on a per -day basis for the unpaid balance. 190
(2) CERTIFICATE OF RELEASE. —An officer or duly appointed 191
agent of a title insurer may, on behalf of a mortgagor or a 192
person who acquired from the mortgagor title to all or a part of 193
the property described in a mortgage, execute a certificate of 194
release that complies with the requirements of this section and 195
record the certificate of release in the real property records 196
of each county in which the mortgage is recorded if a 197
satisfaction or release of the mortgage has not been executed 198
and recorded after the date payment in full of the loan properly 199
due under or secured by the mortgage was made in accordance with 200
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
an estoppel letter a payoff statement furnished by the mortgagee 201
or the mortgage servicer of the mortgage. 202
Section 3. This act shall take effect October 1, 2022. 203