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

What do I need to do as a real estate licensee to ensure compliance by my clients with the FL SB 264 law?

  • Consult with legal counsel. Advise the parties to consult an attorney regarding how the law may impact their legal rights and responsibilities
  • Get the affidavit. The law requires the buyer to deliver at the time of purchase an affidavit attesting to the fact that the buyer is not a foreign principal, or is not a foreign principal prohibited from making the purchase, and is in compliance with the new law
  • Disclose, disclose, disclose. Be sure the seller and buyer are made aware of the new law. The widely used Florida Realtors/Florida Bar (FR/BAR) form contracts are being updated to include a formal disclosure to the seller and buyer
  • Engage with a Fund Member attorney as closing agent. They are best situated to understand the law and to safely navigate you and the parties through its many complications


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