Florida Land Title Association's (FLTA) mission is to empower members through advocacy and education to protect property rights.
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2018 PASSED LEGISLATIVE LAWS EFFECTIVE JULY 1, 2018
June 15, 2018 - This past Spring, the Florida Legislature passed several laws affecting Title and many supported by FLTA. Below are some of those laws going into effect this July. This is not to be a complete list.
CS/HB 7087/ Taxation (Interspousal transfer and exemption from documentary stamp): Amends Florida Statute section 201.02. Real property being transferred due to a divorce is exempt by statute from documentary stamp taxes. Ironically, if one owns real property, gets married later, and wishes to add his or her new spouse to title, documentary stamp taxes would be required. There is no statutory exemption. An exemption for interspousal transfer from documentary stamp taxes was signed into law and creates an exemption for the above scenario.
CS/SB 512/ Homestead Waivers: Provides language which may be used to waive spousal homestead rights concerning devise restrictions, etc.
CS/HB 617/ Covenants and Restrictions (MRTA): Covenants and Restrictions; Authorizes certain parcel owners of a community not subject to HOA to use specified procedures to revive certain covenants or restrictions; revises interests & rights protected by filing for record within specified timeframe; revises & provides provisions relating to covenants and restrictions, including extinguishment, validity of notice, length of time certain covenants and restrictions are preserved, filing of notices, notice content requirements, requirements of property associations, & validity & enforceability.
CS/HB 631/ Possession of Real Property: Possession of Real Property; Authorizes person with superior right to possession of real property to recover possession by ejectment; provides that person entitled to possession of real property has cause of action to regain possession from another person who obtained possession of real property by forcible entry, unlawful entry, or unlawful detainer; prohibits local government from enacting or enforcing ordinance or rule based on customary use; provides an exception; creates, revises, & repeals related procedural provisions.
CS/HB 661/ Business Filings: Authorizes certain persons and entities to correct certain documents; provides that correction filed for certain reasons are not subject to department fee; requires department to send notice of filing of record through e-mail or send copy of document to mailing address of entity, representative, or agent; provides notice requirements for department if record changes entity's e-mail or mailing address.
CS/CS/HB 483/ Unfair Insurance Trade Practices: Revises types, value and frequency of advertising and promotional gifts that licensed insurers or their agents may give to insureds, prospective insureds, or others; authorizes such insurers or agents to make certain charitable donations on behalf of insureds or prospective insureds; prohibits title insurance agents, agencies, and insurers from giving insureds, prospective insureds, or others merchandise in excess of specified value; authorizes certain licensed insurers and agents to give specified complimentary services or discounted rates on specified services.
Thank you to all that joined us at the 2018 FLTA Annual Convention!! It was educational and fun!
A big THANK YOU to our Sponsors and Exhibitors!!
During a recent FLTA Lunch-and-Learn, Ft. Myer’s affiliate WINK News produced a story on the severity of Business Email Compromise and spoofed email accounts. A real threat to the real estate industry. It is recommended that you verify wiring instructions with the original contact information of your closing agent and over the telephone.
Do you have questions about Best Practices? Click HERE.
The Data Call is HERE!!
Beginning January 1, 2014, all agents are required to comply with its requirements. To learn more, choose "Getting Ready for the Data Call". Click HERE for Data Call Info and FAQ's.
Data Call is due May 31, 2018
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