Fund News and Alerts

Fund Underwriting introduced a new CLE program in late September entitled, Fraud & Forgery: Catch Me if You Can, which was presented by Underwriting Attorneys at meetings across the state including Bay Area REC, Broward REC, North Dade & Beaches REC, Palm Beach REC, Highlands Town Hall, Jacksonville REC, Volusia REC and North Florida (Gainesville).  Thank you to Marilyn Israel and Princy Valiathodathil for creating such a great program, and Princy, Brian Stringer, Ben Jepson, Charles Nostra, Mike Mirrington, Jalinda “Jay” Davis, Chris Bracken and Rebecca Wood for your presentations!

A new Geographic Targeting Order (GTO) has been issued effective beginning October 22, 2023, and ending April 18, 2024 for Miami-Dade, Broward and Palm Beach counties, and for the newly added counties of Hillsborough, Pasco, Pinellas, Manatee, Sarasota, Charlotte, Lee and Collier, for which the effective date is November 21, 2023, ending April 18, 2024.

View the New Geographic Targeting Order (GTO)

By: René Rutan, Manager, Events & Affiliate, REC & Realtor® Relations

In the last issue, I told you about the Law Symposiums for the Realtors® of Broward, Palm Beach & St. Lucie being planned by the Broward Attorneys’ Real Estate Council and Attorneys’ Real Estate Council of Palm Beach County.  I am back to share all the details of these great events!

The Fund continues to sponsor the Residential Real Estate & Industry Liaison Committee (RREIL) of the Real Property, Probate & Trust Law Section of The Florida Bar (RPPTL) under the banner of the Attorneys’ Real Estate Councils of Florida.  At the July RPPTL Meeting, we encouraged RREIL Committee members to join their local RECs, and shared examples of how REC membership is benefitting real estate attorneys around the state.

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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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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