In a shocking turn of events, Fidelity National Financial, a major player in the real estate industry, has fallen victim to a ransomware attack, sending shockwaves through the real estate market and causing panic among homeowners and buyers. The aftermath of this cyber catastrophe has left many transactions in limbo, leaving Realtors® individuals and businesses in need of assistance and solutions.
The Closing Agent, a reputable title insurance agent based in Orlando, Florida since 2002, is not a direct insurance company, but an agent for multiple underwriters and has emerged as a beacon of support for those affected by the Fidelity National ransomware incident. With access to multiple underwriters, The Closing Agent is uniquely positioned to expedite Fidelity National orders impacted by this unfortunate situation, providing much-needed relief to those caught in the crossfire.
Understanding the Fidelity National Ransomware Crisis:
Ransomware attacks have become an increasingly prevalent threat in our interconnected digital world, and no industry is immune. In a catastrophic turn of events, Fidelity National Financial, a key player in real estate transactions, has fallen victim to such an attack, causing widespread panic among homeowners and buyers.
The attack has resulted in a disruption of services and transactions, leaving many individuals uncertain about the status of their real estate deals. The ramifications of this incident are far-reaching, affecting not only the financial stability of Fidelity National but also the peace of mind of those relying on their services.
The Closing Agent: A Beacon of Support:
Amidst the chaos, The Closing Agent in Orlando, Florida, has stepped up to offer a lifeline to homeowners and buyers grappling with the fallout of the Fidelity National ransomware incident. While not a direct insurance company, The Closing Agent’s status as a title insurance agent with access to multiple underwriters positions them as a valuable resource for expediting Fidelity National orders.
The team at The Closing Agent understands the urgency and stress that this situation has created. We are committed to providing assistance and support to those affected by the ransomware attack, offering a way forward for transactions that may have been stalled or compromised.
How The Closing Agent Can Help:
- Expedited Processing: The Closing Agent is equipped to expedite Fidelity National orders impacted by the ransomware incident, streamlining the process and minimizing delays.
- Access to Multiple Underwriters: With access to multiple underwriters, The Closing Agent can explore alternative avenues and ensure that transactions move forward smoothly, even in the face of challenges posed by the Fidelity National cyberattack.
- Expert Guidance: The experienced professionals at The Closing Agent are well-versed in navigating the complexities of real estate transactions. We can provide expert guidance and support to individuals and businesses affected by the ransomware incident.
- 1031 Exchange Services: The attorney team and title specialists at The Closing Agent can help you structure your 1031 exchange so that it is in full compliance with the safe harbor regulations including making available the services of a qualified intermediary and providing for the establishment of qualified escrow or qualified trust accounts.
Conclusion:
The ransomware attack on Fidelity National Financial has undoubtedly created a challenging landscape for homeowners and buyers alike. In times of crisis, it is reassuring to see industry players like The Closing Agent stepping up to offer support and solutions.
If you find yourself caught in the aftermath of the Fidelity National ransomware incident, know that The Closing Agent is here to help. With our commitment to expedited processing, access to multiple underwriters, and expert guidance, we are dedicated to assisting individuals and businesses in navigating these uncertain times and ensuring that real estate transactions can proceed with confidence.
In the face of a cyber catastrophe, let The Closing Agent be your trusted partner in finding a way forward. Call us at 407-425-2400 for more information.
Orlando, FL – The Closing Agent, LLC, headquartered in Orlando, FL, has embarked on a transformative journey to redefine the real estate closing experience. Leveraging cutting-edge technology, including artificial intelligence (AI), machine learning, and real-time analytics, The Closing Agent is dedicated to minimizing delays, streamlining operations, and enhancing the overall closing process for its valued customers.
With an award-winning team of Business and Real Estate Attorneys by its side, The Closing Agent offers an unmatched level of expertise and accuracy in the closing process. The integration of advanced technology into its operations further solidifies its commitment to excellence.
In a significant move, The Closing Agent migrated its major data platforms to the cloud and established a robust data hub designed for Customer Service and Operations. This data hub empowers the company to monitor real-time data from various crucial aspects of the closing process. Unlike conventional approaches that merely analyze historical data, The Closing Agent uses this real-time data to drive immediate improvements in customer service and operational outcomes.
The Closing Agent has formed strategic partnerships with key industry players for its preferred cloud platform, enabling the integration of AI, machine learning, and data analytics into every facet of its operations. From expediting order set-up to providing real-time information to customer service representatives, processing personnel, and escrow officers, The Closing Agent ensures a seamless and punctual closing experience.
“We are dedicated to delivering a superior closing experience, and our investment in technology reflects this commitment,” said Darryll L. Clark, Vice President at The Closing Agent. “Our employees are at the heart of our innovation journey. Their creativity and insights, gathered from their daily interactions with our clients, shape the improvements we make. We believe that combining the skills of our dedicated team with state-of-the-art technology is the key to redefining the future of real estate closings.”
The Closing Agent’s forward-thinking approach to real estate closings is poised to set a new industry standard, with a focus on efficiency, accuracy, and customer satisfaction.
About The Closing Agent & Barry Miller Law
The Closing Agent, LLC is Central Florida’s leading title insurance and settlement company. With a team of dedicated Business and Real Estate Attorneys, The Closing Agent provides an unparalleled level of expertise and accuracy in real estate closings. By harnessing advanced technology, including AI, machine learning, and real-time analytics, The Closing Agent is committed to minimizing delays, streamlining operations, and delivering an exceptional closing experience to its clients. For more information, visit www.theclosingagent.com or call (407) 425-2400.
New Statute effective July 1, 2023
Florida Statute 83, which governs Landlords and Tenants has several provisions that have changed. Here are the highlights:
Preemption. (FS 83.425) The State has effectually preempted a county or municipality from enacting laws and ordinances that govern landlords and tenants regarding screening processes, application and fees, terms and conditions of rental agreements rights and responsibilities of landlords and tenants disclosures regarding the rental unit.
Termination of Tenancy. (FS 83.57) has been amended to require 30 days termination notice on a month-to-month tenancy. This is a change from the prior requirement of 15 days’ notice prior to the end of any monthly period. If there is a specific term to the tenancy, then a rental agreement may not include a term that requires “less than 30 days notice or more than 60 days’ notice from either the landlord or the tenant for notice of renewal.
Many property managers and landlords utilize “form” leases. Owners should be careful using these forms. Some of them do not comply with Florida Statutes and others have vital terms omitted. We recommend that an attorney drafted lease be created for your rental properties. Once you have an attorney drafted template, a landlord can be sure that all of the terms and understandings regarding the property are properly set forth and the document it can then be used for future rental engagements for the property.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
Governmental agencies are no longer required to publish legal notices in local newspapers or on their websites.
Effective January 1, 2023, Florida law will no longer will require legal notices to be published in local newspapers. The revision to the law gives a governmental agency the option to publish its legal notices on the publicly accessible website of the county/city instead of a local newspaper
Proponents said the newspaper requirement for legal notices should not be forced to subsidize local newspapers and newspapers publishers have stated that the loss of advertising revenue from these notices will cause great harm to publishers as circulation and subscriptions diminish.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
After the tragic murder of Miya Marcano, in Orlando in 2021, this new law is called “Miya’s Law” and became effective on January 1, 2023. The new legislation addresses residential safety protocols for landlords and property managers of apartments or vacation homes. All employees of the landlord and property manager must undergo a background screening as a condition of employment. There is also a requirement that a log be maintained for each dwelling unit’s key, and increasing notification requirements for notice for maintenance and repairs from 12 to 24 hours. A person may be disqualified from employment if the person has been found guilty of certain offenses involving violence and disregard for safety.
Apartments will also be required to maintain a log accounting for the issuance and return of all keys and establish policies for their issuance, return, and storage. The key log and background screenings will be subject to the DBPR’s annual inspection.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
We have received inquiries from agents and have become aware of recorded documents that might create possible rights of an entity called MV Realty or a recorded instrument identified as an MVR Homeowner Benefit Agreement. These agreements are an arrangement with the homeowner that may involve financial and listing rights for the property.
The recorded Memorandum is a summary of the entire agreement between the entity and the property owner, but it provides in pertinent part that “the obligations of Property Owner under the Agreement constitute covenants running with the land and shall bind future successors in interest in title to the Property.” To summarize, the position asserted in the Memorandum is that the Agreement binds not only the person signing the agreement but any successors in interest who acquire title subsequent to its having been recorded.
This article is not intended to evaluate the legal merits of the asserted interest nor the legal efficacy of the agreement, but simply to notify you that our experience and information is that these agreements are popping up in multiple jurisdictions across the country, and in the event MV Realty determines that its “rights” have been overlooked and a sale occurred subsequent to the recording without obtaining a release, they have been tenacious in seeking to enforce a lien, and their demand for a release or payoff is typically for a substantial dollar amount – thousands of dollars in excess of the sums paid to the owner at the time of recording.
In the event a Memorandum of Agreement involving MV Realty, or an affiliate thereof, or of an agreement of a similar nature appears in the title search, regardless of whether the transaction is a sale or a refinance, it is required that the Memorandum and the Homeowner Benefit Agreement identified in the Commitment be terminated. To do so, we will require a written payoff and release quote from the MV Realty entity of record. Any release must be total and absolute – releasing any and all interest in the subject property, not simply the rights as pertain to the specific sale or loan in contemplation. In addition, the Release must also include a Termination of the underlying Agreement.
Anytime there is any type of memorandum or similar instrument recorded, it must be resolved in order to provide clear title pursuant to the Contract. This is another reason that agents should at the time of listing order a title commitment.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
If a property is located within a homeowner’s or condominium association, we must secure an estoppel certificate to demonstrate that there are no past due fees or fines due by the seller. The certificate will also disclose if there are any violations of the association’s declaration or rules. Since July 1, 2017, fees for the preparation and delivery of estoppel certificates for condominiums, cooperatives and homeowners’ associations have been limited by sections 718.116, 719.108 and 720.30851, Florida Statutes. These statutes require the fees to be adjusted every five (5) years in an amount equal to the total of the annual increases for that five (5) year period in the Consumer Price Index for All Urban Consumers, U.S. City Average, All Items. The statutes further provide that the Department of Business and Professional Regulation (DBPR) shall periodically calculate the fees, rounded to the nearest dollar, and publish the amounts allowable.
Effective July 1, 2022, the fees are as follows:
The next update will be on July 1, 2027
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
The Florida Lady Bird Deed
Estate planners looking for a probate avoidance strategy that ensures retained control of real estate assets throughout life and automatic transfer upon death should consider an Enhanced Life Estate Deed, colloquially known as a Lady Bird Deed. Also referred to as a ladybird deed, this deed form offers several valuable features that fit the needs of some estate planning scenarios.
Florida is one of only five states where the Lady Bird Deed is available (Florida, Michigan, Texas, Vermont, and West Virginia). Florida property owners who anticipate the possibility of using Medicaid should consider the Lady Bird Deed for a potential fit with their individual situation.
What is a Lady Bird Deed?
Recall that a Lady Bird Deed is an Enhanced Life Estate Deed. The clearest understanding of the Lady Bird Deed can be gained by examining the underlying Life Estate Deed form.
A basic Life Estate Deed changes ownership of real property. This type of deed is designed to transfer real property at death while allowing the owner to retain use of the property during life. Estate planning benefits include avoidance of probate and gift taxes, simplification of inheritance planning, and the provision of lifetime assured housing to survivors or beneficiaries designated by the creator, or grantor of the deed.
As an estate planning tool, the traditional Life Estate Deed has a significant drawback. The deed is a legal transfer of title that effectively creates multiple owners of the same piece of property. This happens because the deed fulfills its function by dividing the subject property into two designated interests and creating three different owner roles:
- Current Owner (Grantor)
- New Owner (Life Tenant
- Future Owner (Remainder Beneficiary)
One interest, the life estate, is held by the grantor of the deed, generally the current property owner. The life estate is a lifetime interest based on the grantor’s lifespan. Usually, the grantor also serves in the role of life tenant, the party that owns and has use of the property.
The other interest is called the remainder interest or simply remainder. This is the interest that passes at the owner’s death. The individual named as the remainder beneficiary has a real ownership interest in the property as the future owner.
The remainder beneficiary is a co-owner of the property, but does not have rights to current possession of the property. Only the life tenant has those rights, with the remainder beneficiary’s interest beginning with the death of the life tenant.
This co-ownership status represents the primary disadvantage of the traditional Life Estate Deed. The grantor loses compete control of the property and is unable to sell it, take out a mortgage, or change what happens to the property after the grantor’s death. The decision to create a Life Estate Deed is irrevocable, and any changes would require the consent of any and all remainder beneficiaries.
This framework of understanding regarding the Life Estate Deed brings the purpose and advantage of the Lady Bird Deed into clear view:
Unlike the grantor of a traditional life estate deed, the grantor of a Lady Bird Deed does not lose control of the property and may deal with it in any way desired without the involvement of any remainder beneficiaries. The property may be sold, mortgaged, or gifted. The remainder beneficiary may be changed, or the entire deed arrangement may be undone.
What are the advantages of using a Lady Bird Deed in Florida?
Along with probate avoidance and retention of the grantor’s ownership control of the subject property, the primary advantage conferred by the Florida Lady Bird Deed is relevant to Medicaid planning.
Medicaid Planning
The Lady Bird Deed is very popular in Florida as a Medicaid planning tool. Medicaid is the joint state/federal program that provides assistance to financially needy individuals who need long-term care in a nursing home or other facility.
To apply for Florida Medicaid, the state’s Institutional Care Program, an individual must provide the Department of Children and Families with a detailed list of all assets. The purpose is to ensure that all available financial resources are used to pay for care before Medicaid funds are used. The value of all qualifying assets, called countable assets, is calculated and used as the basis for creating a Medicaid eligibility waiting period.
A Florida Medicaid applicant must disclose any assets transferred within 60 months prior to the application date. The value of such assets will be used in the calculation of the Medicare waiting period. A Lady Bird Deed provides a way around this problem.
Because the Lady Bird Deed does not take effect until after the grantor’s death, the Florida Department of Children and Families does consider the property to have been transferred for the purposes of the 60-month lookback period. This is true even though the deed has been signed and recorded within the previous 60 months. The Lady Bird Deed transfer has no effect on Medicaid eligibility.
As stated in Section 1640.0613.01 of the Florida ESS Policy Manual governing Florida’s Medicaid program:
If an individual retains life estate using a lady bird deed or life estate with powers, no transfer has occurred. The individual retains full ownership powers in the property and it is only upon their death that the property transfers ownership to the remainderman.
Tax Planning
Lady Bird Deed Florida tax benefits include avoidance of the Federal gift tax. The Lady Bird transfer is an incomplete gift, meaning there is no requirement to file a gift tax return. Effectively, there has been no transfer during the owner’s lifetime.
Moreover, the Florida Department of Revenue assesses minimum documentary stamp taxes on Lady Bird Deed property transfers as long as the grantor of the deed is the same person who retains the life interest.
Another benefit is found in the fact that the beneficiaries are viewed as inheriting the property at the owner’s death. Therefore, if the beneficiaries sell the property, it is taxed on an adjusted basis that ignores any appreciation accrued while title was held by the deceased owner. This lowers Federal income tax liability.
Finally, a transfer of property via a Florida Lady Bird Deed keeps any existing property tax cap in place. Such a cap would normally be lost upon transfer of the property. This results in property tax saving for the owner.
How can I set up a Florida Lady Bird Deed?
The Lady Bird Deed is named for Claudia Alta “Lady Bird” Johnson, First Lady of the United States as the wife of Lyndon B. Johnson, 36th President of the United States (1963–1969). The name stuck when the Florida lawyer who created the deed in the 1980s used the Johnson’s names in a written example showing how the deed worked.
The Florida Lady Bird Deed can be very useful. However, drafting the deed can be tricky. Complications arise when a grantor is not including all children, or if improper language is used. Incorrect drafting may result in the deed being deemed uninsurable by title insurance companies. The property will then go into probate in order to get the deed cleaned up.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
As more and more homeowners are installing solar panels, all parties to the transaction need to keep a sharp eye on all of the pitfalls involved. If these matters are not addressed it could lead to litigation and thousands of dollars in obligations and costs.
First, on the listing side. If there are solar panels on the home, the agent must inquire:
Is the solar system:
Owned outright?
If so, there are no applications or obligations outstand, the parties are good to go. Buyer’s should inquire if there are any warranties on the equipment and if they can be transferred to the buyer.
Leased?
If leased, can the lease be transferred and assumed by the buyer? Who will pay any application and assumption fees?
Financed?
If financed, will the seller pay off the debt at closing, or will the buyer assume the financing? Is there an application and assumption fee? Who will pay?
The Contract must also address: What if the buyer does not qualify to assume/assign the lease or financing? What if the Lessor or lender does not allow an assumption?
It is important that the listing agent obtain a title commitment when listing the property to determine if there are any issues with the solar system. At The Closing Agent, we offer seller’s a complimentary title search when listing a property which will disclose any encumbrances for solar systems, and will also disclose any other title issues that could impede the transaction.
When the title commitment is completed, it will likely disclose a memorandum of the lease, a UCC if financed and/or a financing agreement (Mortgage). If the assumption of the obligation is not addressed in the Contract for Purchase and Sale, the Seller must provide clear and marketable title, therefore the Seller will be obligated to fulfill any financial obligations (pay off the amounts due or lease obligations) in order to provide marketable title.
Agents should be sure to address and disclose the solar system situation in the MLS listing and the seller’s disclosure . Buyer’s agents should be sure to inquire about the solar system prior to submitting an offer.
We recently had a buyer under contract with a solar system that was financed. The listing agent did not disclose anything on the system, so the buyer assumed it was owned outright. The title commitment disclosed a UCC financing lien. There was an outstanding balance of $25,000.00 The listing agent insisted that the buyer must assume the obligation. He further stated that if the buyer was not willing to assume the debt, that the buyer could cancel the contract. We intervened and informed the seller that the seller was obligated to pay the balance and deliver clear and marketable title to the Buyer. If Seller refused, the buyer can bring an action for specific performance under the FR/BAR contract.
If the property is subject to a PACE loan, agents should use the new PACE Disclose (Form EE- CR-6 Rev 11/21). PACE is a long term, fixed rate financing arrangement. The seller may have financed up to 100% of the costs involved in installing the solar system and labor. As the PACE loan can be pre-paid at anytime without penalty, Buyers should include language that obligates the seller to do so at closing. PACE loans do not require any approvals for the assumption of the obligation as the debt is associated with the property and not the owner. Also, Buyers should be aware that the Federal Housing Financing Agency (FHFA), Fannie Mae and Freddie Mac will not finance a property with an outstanding PACE obligation.
We have developed a form addendum to address these issue and is now available in our Realtor Resource Center at:
www.theclosingagent.com/addendums
Propane tanks and water filtration/softener equipment should also be addressed in this same manner.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
Buying or selling real estate should be a fun and exciting process…if you know what you are doing. However, all too often, buyers and sellers are presented with contracts and told to “sign here” but are given no explanation as to what they are entering into. Under Florida law, real estate agents are unable to provide their clients with legal advice as they are not trained and licensed lawyers. In fact, unbeknownst to many buyers and sellers, many real estate contracts contain language that is specifically drafted for their protection in the event a buyer or seller claims their agent gave them wrong advice. Therefore, all real estate transactions should have an attorney involved so that a smooth stress-free closing occurs. Many times an attorney’s involvement during the contract and closing process can save a buyer or seller tens of thousands of dollars in legal expenses post-closing for mistakes that went uncorrected or unknown!
One of the most frequently asked questions from buyers, sellers and real estate agents is what is the difference between an escrow agent and closing agent. Traditionally, when a buyer and seller go under contract the buyer agrees to make a good faith deposit, also known as an earnest money deposit (“EMD”) with an escrow agent. The amount of the deposit varies between contracts and is a negotiable term between the parties. The escrow agent is merely the “holder” of the deposit and is a neutral third-party to the transaction. The escrow agent can be described as a trustee to both parties to the contract and is charged with the performance of a specific duty, to “hold escrow” pursuant to the terms of an escrow agreement which is usually incorporated into the sales contract.
A closing agent is the entity that performs the “closing” pursuant to the terms of the contract. It is the entity that provides the title and settlement services required in order to convey title from the seller to the buyer. More specifically, it is the entity that prepares what is commonly known as the “closing documents” which include the deed, bill of sale, settlement statement, and any required notices.
Many times, the closing agent and escrow agent are one of the same. However, they do not have to be. For example, the seller may request that ABC Title be the closing agent but the buyer may request that his lawyer hold the escrow. In that situation, the escrow agent and closing agent are two different entities.
So why is it important for buyers and sellers to know who their escrow agent is? The reasons are many but some of the primary ones are: (i) whether or not the escrow agent is complying with Florida law as to the requirements of holding escrow; (ii) that the escrow agent has deposited the buyer’s funds in a reputable account so that they are available for closing or in the event of default; and (iii) that the money is not lost in the event the escrow agent goes out of business or files bankruptcy. The later situation arises quiet often, especially when there is an economic downturn.
Key take away….have a trained real estate attorney on your side to guide you through the sales process. The attorneys at Barry Miller Law are here to help and only a phone call away.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
Many of us who reside in the State of Florida know that homestead provides various protections to Florida Landowners. Florida’s homestead laws provide powerful tools to ensure that a family home is not the subject of a forced sale. What many people do not realize is, you can actually sell your homestead, and the proceeds from that sale are protected as well.
For example, assume Bob owns Blackacre, his homestead, which meets the constitutional acreage requirements. Unfortunately, Bob has fallen on hard times and lost his job as a result of the COVID-19 Pandemic. Resultantly, Bob has been unable to pay his mounting credit card debt and three credit card companies obtain judgments against Bob in excess of $20,000.00. Bob has owned Blackacre for a number of years and has substantial equity in Blackacre. However, Bob desires to relocate from rural Hernando County, to join his daughter and son-in-law in Boca Raton. Bob desperately wants to move but doesn’t want his creditors to seize his sale proceeds the second they touch his bank account.
Good news for Bob! Florida law extends homestead protection to the proceeds of a sale of homestead property. Provided that the proceeds are placed in a separate “homestead account,” are not commingled with the homesteader’s regular funds, and are held with the intent to purchase a new homestead within a reasonable time, the proceeds are protected. To break that down, the proceeds are protected if: (1) they are placed in a separate earmarked account, (2) the funds are not commingled with the homesteader’s regular bank accounts or income, (3) the funds are held for the purpose of acquiring another homestead, (4) for only a reasonable period of time.
Thus, the proceeds are protected for a reasonable time to acquire new property. What constitutes “a reasonable time” is dependent upon the facts and circumstances of each case.
Please note this article is for informational purposes only and should not be construed as legal advice. The facts and circumstances of each case, transaction, or matter can differ greatly. You should not use this information as a substitute for consulting with a licensed attorney. Barry L. Miller, P.A., and its attorneys, and staff, do not represent you unless you execute an engagement agreement with the Firm which confirms that representation.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
Florida Statute 117, which governs remote online notarization (RON), was amended and the following changes take effect on January 1, 2022:
• A Florida online notary performing a RON closing shall select the technology to be used. No person, other than the notary’s employer, may require the notary to use a particular technology.
• For online notarization of an individual located outside the United States, a passport issued by a foreign government can be relied upon as a government-issued identification credential to verify the individual’s identity, even if the passport does not include the stamp of the United States Bureau of Citizenship and Immigration Services.
• Provisions were added authorizing use of audio-video communication technology for certain oaths, such as oaths by a person testifying in a court proceeding, deposition, arbitration, public hearing or admission to The Florida Bar.
• Florida law requires online notaries to maintain an electronic journal containing certain information. However, this bill provides that if the online notary public indicates in the journal that he or she has personal knowledge of the individual signing, it is unnecessary to include that the individual presented identification and passed identity proofing.
• The requirement to maintain a copy of the audio-video communication is now the responsibility of the RON service provider (instead of the online notary).
• The RON service provider may delegate the storage of the audio-video recording to a secure repository provided notice is given to the Florida Department of State.
• The RON service provider may charge up to $20 for providing access to the audio-video communication provided, however, certain parties including title insurers and title agents, must be provided with access free of charge for 10 years.
• The services of a RON service provider are not considered closing services, as defined in section 627.7711, Florida Statutes, and a fee for those services may be separately charged.
• The Florida Department of State shall publish on its website a list of each online notary public. The list shall include the notary’s RON service provider and any secure repositories used by the notary.
• A RON service provider must file an annual self-certification with the Florida Department of State, certifying compliance with applicable Florida law. The Department shall publish on its website a list of each RON service provider and any secure repositories to which the RON service provider delegated its duties.
• A RON service provider may not use, sell or transfer personal information obtained in an online notarization, subject to certain exceptions.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
When listing a home that has solar panels, agents must make inquiry with the seller to ensure that the Solar Panels are addressed. Find out:
Are the panels leased or owned?
a. If leased, can the lease be transferred and assumed by the buyer?
b. Is there an application fee and transfer fee? Who will pay?
c. If owned, is there outstanding financing?
d. If so, will the seller pay off the debt at closing, or will the buyer assume the financing? Is there an application and assumption fee? Who will pay?
The Contract must also address: What if the buyer does not qualify to assume/assign the lease or financing? What if the Lessor or lender does not allow assumption?
We have developed a form addendum to address these issues and it is now available in our Realtor Resource Center at: www.theclosingagent.com/addendums
Propane tanks and water filtration/softener equipment should also be addressed in this same manner.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
Before renting a home or apartment, follow these tips to avoid issues:
1. Shop around. It is a tenant’s market right now. See if there are incentives. Free month’s rent, re-imbursement for moving expenses or gift card. If your credit score is high, ask that the security deposit be waived or reduced.
2. Ask for the lease in advance and review the lease prior to the move in date. Have an attorney review it. Points to watch out for:
a. Repairs: who is responsible? Some single family homes have the tenant be responsible for all repairs including appliances, roof and a/c
b. Are there extra fees for:
i. Parking
ii. trash
iii. pets
iv. utilities (water fees)
c. Termination options: 2 month penalty option
3. Walk though the unit prior to signing the lease. Notate in writing any deficiencies. Have the Landlord sign the walk though report. Have the Landlord commit in writing to a date to take care of the items. Be picky, when you move out, they will be!
4. Get renter’s insurance. Many apartments require it. Shop around for it. Your car insurance carrier may offer it and then you may get a discount.
5. Ask if there will be any construction/improvements during your tenancy: New roofs, parking lots, painting, siding replacement, recreation arears. This may cause noise and inconvenience.
6. Check out the Landlord. Complaints with BBB, court filings, online reviews.
7. Get everything in writing!
8. Once you are in, if the landlord materially fails to comply with an obligation under the lease, a tenant can terminate the lease pursuant to FS. 83.56 by giving 7 days written notice.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
On November 17, 2020, the United States District Court, Middle District Of Florida, Orlando Division dismissed the OUC class action complaint.
Barry Miller Law is familiar with all aspects of real property law. If you, or someone you know, has legal questions concerning real estate, business or probate law, contact Barry Miller Law for assistance at 407-423-1700 or email us at info@BarryMillerLaw.com for a consultation.
Click here to view the District Court order
Click here to view the original OUC Class Action Complaint Blog Post.
Click here to view the April update on the OUC Class Action Complaint Blog Post.
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