Conveyances to Foreign Entities
Part III, Chapter 692, Florida Statutes

New Law: SB 264 &
What You Need to Know

We are all talking about the new law, SB 264, that restricts ownership of certain types of property by "foreign principals" from any of several "foreign countries of concern." One of the provisions of the new law is that buyers of property sign an affidavit at closing, stating whether they are a foreign principal and that they are in compliance with the law. 

The new law requires an affidavit be provided at closing by the buyer affirming that 1) they are not a “foreign principal” as defined under the new law or they are a “foreign principal” permitted to purchase property; and 2) they are in compliance with the law.


Where to Access

Notice and Affidavit Forms - Download

To assist Fund Members until the “official” affidavit is available from the Florida Real Estate Commission, we have provided a suggested Notice that generally explains the new law and two suggested Affidavit forms (one for an individual buyer and the other for an entity buyer). Fund Members should consider these forms in the context of a specific transaction and their role (they may be acting as the title/closing agent, buyer’s attorney or seller’s attorney.)

Guidance For Use of Notice and Affidavit - Download

Suggestions and other information about how the Notice and Affidavit can be used.


On-Demand Training Library

Florida SB 264 - Conveyances to Foreign Entities - Watch Now

Legislative update.  Many bills made it through the legislature and are either in the hands of the Governor for his consideration or are in the "queue" to go to...


Florida SB 264 - Fund Guidance on the Affidavit & Notice Form - Watch Now

Do you often have transactions with foreign individuals buying real estate? Do you want to learn more about the affidavit required by a new law in Florida...


Florida SB 264 - Questions & Answers - Watch Now

Do you often have transactions with foreign individuals buying real estate? Do you want to learn more about the affidavit required by a new law in Florida...

Questions

Send us your questions and we will get back to you as soon as we can. Help us learn about the issues you are encountering in your practices, which in turn guides how we can best support you.

Email: foreigninterests@thefund.com


News & Alerts

Florida Senate Bill No. 264 - New Law in Its Entirety

Florida Senate Bill No. 264 - New Law in Its Entirety

An act relating to interests of foreign countries; creating s. 287.138, F.S.; defining terms; pro...

Read More »


ALERT! Legislative Update re Foreign Interests in Real Property - En Español

ALERT! Legislative Update re Foreign Interests in Real Property - En Español
05/15/2023

La legislatura estuvo ocupado este año, y aunque hay varias leyes que afectan bienes raíces qu...

Read More »


ALERT! Legislative Update re Foreign Interests in Real Property

ALERT! Legislative Update re Foreign Interests in Real Property
05/15/2023

The legislature was busy this year, and while there are several laws impacting real estate tha...

Read More »

Displaying results 11-13 (of 13)
 |<  <  1 - 2 >  >|