Florida SB 264
Florida SB 264, in the order a closer needs it.
Florida restricts certain foreign principals from specified land. The statute names an affidavit at purchase. ParcelClear does not sell a Florida Record today.
Florida SB 264, at Fla. Stat. 692.201 to 692.205, restricts foreign principals from agricultural land, from real property within ten miles of a military installation or critical infrastructure facility, and, for persons tied to the People's Republic of China, from any Florida real property. Closers still collect a FREC affidavit. The Florida Record is building. The Texas Record is live.
What does Florida SB 264 restrict?
Three paths sit in Part III of chapter 692. Agricultural land. Real property on or within ten miles of a military installation or critical infrastructure facility. And, for persons and entities the China section names, any real property in the state.
What is the agricultural-land rule?
A foreign principal may not acquire agricultural land except a de minimus indirect interest. The definitions are in section 692.201. Read the current text before you apply it.
Section 692.202(1) states that a foreign principal may not directly or indirectly own, have a controlling interest in, or acquire by purchase, grant, devise, or descent agricultural land or any interest, except a de minimus indirect interest, in such land in this state.
Fla. Stat. 692.202 (Online Sunshine) · Verified
What is the ten-mile rule?
A foreign principal may not acquire real property on or within ten miles of a military installation or critical infrastructure facility. This page does not compute that distance and does not sell a clearance.
Section 692.203(1) states that a foreign principal may not directly or indirectly own, or have a controlling interest in, or acquire by purchase, grant, devise, or descent any interest, except a de minimus indirect interest, in real property on or within 10 miles of any military installation or critical infrastructure facility in this state.
Fla. Stat. 692.203 (Online Sunshine) · Verified
What is the China-any-property rule?
Section 692.204 names the People’s Republic of China and related persons and entities, and it reaches any real property in Florida, not only agricultural land or land near a base.
Section 692.204(1)(a) names the People’s Republic of China, the Chinese Communist Party, certain PRC political-party members, PRC-organized entities, a person domiciled in the PRC who is not a United States citizen or lawful permanent resident, and specified controlling-interest holders, and states that those persons or entities may not directly or indirectly own, have a controlling interest in, or acquire any interest, except a de minimus indirect interest, in real property in this state.
Fla. Stat. 692.204 (Online Sunshine) · Verified
Is there a natural-person exception?
The statute describes a natural-person residential path. Review the current statute for the conditions that apply to the file in front of you.
Sections 692.203(4) and 692.204(2) describe a natural-person residential path. Review the current statute for the conditions that apply to the file in front of you.
Fla. Stat. 692.203 (Online Sunshine) and Fla. Stat. 692.204 (Online Sunshine) · Verified
What affidavit does FREC require?
The statute directs the Florida Real Estate Commission to adopt the affidavit form. The current rule is 61J2-10.200. Failure to obtain the affidavit does not, by the statute's own terms, affect title or insurability unless the closing agent has actual knowledge of a violation.
Sections 692.202(5), 692.203(6), and 692.204(6) each direct the Florida Real Estate Commission to adopt rules establishing the affidavit form a buyer must provide at purchase. The current rule is Fla. Admin. Code r. 61J2-10.200.
Fla. Admin. Code r. 61J2-10.200 · Verified
What did the Shen opinion hold?
On standing to challenge the purchase restriction only. The Eleventh Circuit held that none of the plaintiffs had standing to challenge that restriction. See Shen v. Simpson.
The Eleventh Circuit held that none of the plaintiffs had standing to challenge the purchase restriction, because none showed they intended to engage in conduct the restriction arguably proscribes.
Shen v. Simpson, No. 23-12737 (11th Cir.) · Verified
Can you buy a Florida Record today?
No. The Florida Record is building. The Texas Record is live at $79. This page is not a payable file.
Florida Record — building; Texas Record is live.
See the Texas Record, $79 per transactionSee a sample recordSources
Last verified