Assembly Registration, Foreign Interests Ruling & New CLE Requirements
Dear Members,
I hope everyone is well. Market is picking up ever so slightly… interest rates are down a little bit… maybe things are looking up! I am focused on what is going on in the legislative session and regret that I have not been paying as much attention to things that you might really want to know about! So my apologies and hope you find this information worthwhile.
Fund Assembly 2024. Yes, indeed, it is time to give some serious thought to attending Fund Assembly this year. We have a great program lined up for you and Early Bird Registration has opened. You save $85 dollars if you register now and that's not chicken feed! Join hundreds of fellow Fund Members in Orlando to share your knowledge and experience and make new connections. Here's a link to register. https://www.thefund.com/assembly.aspx
Foreign Interests in Real Property. Many of you are aware of a recent ruling out of the 11th Circuit, United States Court of Appeals, regarding the case challenging the new law prohibiting the purchase of certain types of real property by foreign principals from a specified group of countries. The ruling grants an injunction pending appeal only as to two individual plaintiffs, Ms. Yifan Shen and Mr. Zhiming Xu. The District Court appeals panel will hear oral arguments on the merits of the original motion for an injunction in mid-April in Miami. This case does not, at this point, change the requirement for the buyer of real property to provide an affidavit of compliance with the law. Please continue to follow that practice. And be sure to use the final form as approved by the Florida Real Estate Commission. Here is a link to the page on our website where you can download the form. https://www.thefund.com/resources/conveyances-to-foreign-entities.aspx
The Florida Bar CLE Requirements Update. The minimum requirements for continuing legal education (Rule 6-10.3(b)) changed effective January 8, 2024. As a result of the rule change, members whose reporting cycle ends in April or after have been affected and their CLER status has been returned to “Incomplete” until the completion of the new 2-hour mandatory professionalism course titled: Professionalism Expectations: A Mandatory CLE for Members of The Florida Bar. You may verify your CLER compliance status by logging into your account in the MyFloridaBar Member Portal or contacting the Legal Specialization and Education Department at clemail@floridabar.org or (850) 561-5842.
Legislative Update. We are halfway through this year's session and things are busy. There are a significant handful of bills that affect real property in some way and it remains to be seen which of those will successfully become law. While there are several other important bills, I am focused on the estoppel bill, the notary bill and two bills that fix some ambiguities coming out of some court rulings that involve mixed-use projects with condominiums and creating cross-easements over property before any parcels are sold. If you want any details, let me know.
That's all for this week.
Let me know how we can help you.
Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
and General Counsel
02/09/2024