Fund News and Alerts

New Measures to Reduce Real Property Fraud

Session Law 2023-238: Florida Legislature Creates and Enhances Anti-Fraud Law, New Quitclaim Deed, and Recording Requirement

During the 2023 Legislative Session, the Florida Legislature passed House Bill 1419. On Jun. 14, 2023, the bill was approved by Governor Ron DeSantis and assigned Session Law Number 2023-238. Principally, the new law creates procedures and guidelines designed to thwart real property fraud. In addition, new provisions are included which govern actions to quiet title resulting from alleged fraudulent conveyances as well as mandating a new form quitclaim deed. Except as otherwise noted, the provisions of the new law are effective on Jul. 1, 2023.  This article will set forth many of the details of the legislation. 

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09/01/2023

Work Safely & Securely with ClosingVue!

How Secure is Your Data?

Cyber-attacks and security breaches happen DAILY in our industry. Take the next step in protecting your data with ClosingVue, the powerful yet simple title and settlement production software for Fund Members.  

08/30/2023

Conveyances of Real Property Under the Foreign Entities Act

Florida Governor Ron DeSantis signed Senate Bill 264 (SB 264) into law on May 8, 2023. The law has an effective date of Jul. 1, 2023, and may have a tremendous impact on the ownership and conveyance of real property in Florida. The bill creates Secs. 692.201 – 692.205, F.S., and is commonly referred to as the Conveyances to Foreign Entities Act (Act).  The Act contains wide prohibitions with respect to foreign ownership of certain real property. Under the Act, ownership includes direct or indirect ownership of, or a controlling interest in, real property. Although the Act does not impose compliance liability on the issuing agent or underwriter, being familiar with its terms allows agents to be better prepared to discuss its implications with buyers and sellers. The Act applies to certain types of property and certain foreign principals, so it is important to understand how each of these is defined. 

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08/01/2023

Celebrating The Fund’s 75-Year Legacy

For 75 years, The Fund has stayed true to the original Mission – promoting and facilitating the real estate practices of Members like you in your protection of the public – and that’s worth celebrating!

07/31/2023

Have You Been Using the Same Closing Software for Years?

Modernize your workflow and simplify your process with ClosingVue, a powerful yet simple title and settlement production software. 

07/28/2023

DoubleTime 9.4 Now Available

What’s new in DoubleTime 9.4? 

DoubleTime 9.4 includes the following enhancements: ALTA 2021 Closing Protection Letter, 2023 Standard Commitment Clauses and the revised Old Republic Privacy Notice document.

Version 9.4 includes enhanced functionality in the ‘Signature/Notary’ area to comply with the new statute effective January 1, 2024 of adding an address to each witness on instruments to be recorded.

Install DoubleTime^®9.4 to use new software features.

07/28/2023

ALERT! IRS Form 1099-S Filers Beware

All IRS Form 1099-S filers beware!  Obstacles lie ahead for both electronic and paper form submitters.

07/06/2023

New Trust on The Block: Community Property Trust Act

Effective July 1, 2021, the Florida Legislature passed the Community Property Trust Act as Ch. 736, Part XV, F.S., (the Act). Prior to the Act, Florida was a pure “common law property” state, meaning that the way title was held determined who owned the property. In community property states, “community property” means that the assets acquired during the marriage are owned by each spouse equally, regardless of how title is held. The Community Property Trust Act gives people the option of holding assets in Florida as “community property” by transferring them to a community property trust.

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07/01/2023

Standing By: Letters of Credit in Commercial Real Estate Transactions

A letter of credit (LOC) is a document from a financial institution guaranteeing payment once the conditions of the LOC are met. They may be useful in a variety of commercial real estate scenarios, from purchase and sale to landlord/tenant issues. 

Another description of the LOC comes from the decision in In re Lancaster Steel Co., Inc. 284 B.R. 152 (S.D. Fla. 2002): “A unique commercial vehicle designed to substitute the creditworthiness of a neutral party for that of a party interested in an underlying transaction and assure prompt payment of obligations.

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06/01/2023

An Easy Way to Promote Your Practice & Value to Real Estate Professionals

We know you are essential to the closing process, and to help real estate professionals and consumers gain the same understanding, we have launched a statewide “Value of a Real Estate Attorney” awareness campaign. The campaign will be promoted on the below channels. 

• Florida Realtor Legal News
• Title Report Ads
• Paid Search ads - internet online searches
• Social Media
• Outdoor Billboards - Orlando, Miami, Tampa
• Realtor Association Magazines - Orlando, Miami, Tampa

05/25/2023