FLORIDA
STATUTES
CHAPTER 498/021.022 LAND SALES PRACTICES |
INDEX:
498.001 Short title.
498.003 Legislative intent.
498.005 Definitions.
498.007 General powers and duties.
498.009 Offices.
498.011 Payment of per diem, mileage, and other expenses to division
employees.
498.013 Seal and authentication of records.
498.017 Fees.
498.019 Division of Florida Land Sales, Condominiums, and Mobile
Homes Trust Fund.
498.021 Jurisdiction.
498.022
Jurisdiction over fraudulent acts.
498.023 Prohibitions on dispositions of interests in subdivided lands.
498.024 Reservations.
498.025 Exemptions.
498.027 Application for registration.
498.028 Contracts and conveyance instruments.
498.029 Notice of filing and registration.
498.031 Inquiry and examination.
498.033 Registration of subdivided lands.
498.035 Advertising material.
498.037 Public offering statement.
498.039 Certain assurances or trust and escrow accounts required;
reports required.
498.041 Annual renewal; termination of registration.
498.047 Investigations.
498.049 Suspension; revocation; civil penalties.
498.051 Cease and desist orders.
498.053 Notices to show cause.
498.057 Service of process.
498.059 Penalties.
498.061 Civil remedy.
498.063 Saving clause.
History.--s. 24, ch. 67-229; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 11,
30, 32, ch. 79-347;
ss. 2, 3, ch. 81-318; ss. 9, 33, 34, ch. 88-90; s. 4, ch. 91-429; s. 571,
ch.97-103.
Note.--Former s. 478.27.
(5) Any willful violation of the provisions
of subsection (1) shall be a felony of the
third degree, punishable as provided in s. 775.082, s. 775.083, or s.
775.084.
History.--ss. 10, 34, ch. 88-90; s. 4, ch. 91-429; s. 2, ch. 93-190; s.
5, ch. 97-192.
498.023 Prohibitions on dispositions of interests in subdivided lands.--Unless
the
subdivided lands or the transaction is exempt pursuant to s. 498.025:
(1) No person shall, unless the person has a valid order of registration
for the
subdivided lands:
(a) Offer or dispose of, or participate in an offer or disposition
of, any interest in
subdivided lands located in this state;
(b) Offer or dispose of, or participate in an offer or disposition
of, any interest in
subdivided lands located outside this state to persons in this state;
(c) Participate within this state in an offer or disposition of any
interest in subdivided
lands located outside this state to persons located outside this state.
(2) No person may dispose of, or participate in the disposition of,
any interest in
subdivided lands unless:
(a) A current public offering statement is delivered to the purchaser
prior to the
disposition;
(b) The purchaser is afforded a reasonable opportunity to examine
the public offering
statement prior to the disposition; and
(c) The contract and public offering statement authorize the purchaser
to cancel the
agreement without cause until midnight of the seventh business day after
he or she
executes the contract.
(d) The public offering statement, contract, note, mortgage, deed,
or other sales
documents, delivered to the purchaser, are in the language in which the
sales
campaign is conducted, unless an accurate translation is attached to the
document.
(3) When the principal solicitation of the disposition is by long-distance
telephone, no
person may dispose of, or participate in the disposition of, any interest
in
subdivided lands unless:
(a) The prospective purchaser is given an unconditional 30-day refund
privilege
extending from the time the fully executed agreement to purchase is received
by the purchaser;
(b) The subdivider includes this unconditional refund privilege in
the agreement to
purchase and in the public offering statement;
(c) Prior to the execution of the agreement by the purchaser, the
subdivider furnishes
the prospective purchaser by mail or personal delivery an approved synopsis
of the
sales script and a current public offering statement, and the purchaser
certifies in
writing to the receipt thereof; and
(d) One of the following takes place subsequent to the solicitation
of the disposition
by long-distance telephone:
1. The prospective purchaser personally inspects the property before
executing the
agreement to purchase and so certifies in writing; or
2. The prospective purchaser executes an agreement to purchase which
expressly
provides that the purchaser or purchaser's agent has 6 months from the
date the
purchaser received the fully executed agreement to purchase in which to
take a
subdivider-guided personal inspection of the subdivided lands, and, at
that time, if
the purchaser is not satisfied with his or her purchase and the agreement
to
purchase is not in default, the purchaser may request in writing a refund
of all
moneys paid in under the agreement to purchase, and shall be entitled to
the
refund, even though the afore said 30-day period has expired. The agreement
to
purchase shall also provide that the subdivider must make available a guided
personal inspection of the subdivision upon request by the purchaser and
that the
purchaser may request, and shall be entitled to, the refund if the subdivider
fails to
make the inspection available.
(4) No person may offer or dispose of, or participate in an offering
or disposition of,
any evidence of indebtedness secured by a mortgage or deed of trust of
any
interest in subdivided lands through any means of advertising unless the
offering is
registered with and approved by the division. This subsection does not
apply to the
offer or disposition of evidences of indebtednesses which are offered to
not more
than 20 purchasers; however, a person shall only avail himself or herself
of this
exemption one time within any 12-month period. This subsection does not
apply
to the bona fide sale, transfer, or delivery of evidences of indebtednesses
by or to
a bank, savings and loan association, trust company, insurance company,
or real
estate investment trust.
History.-s. 20, ch. 67-229; s. 6, ch. 69-393; s. 131, ch. 71-355; s. 1,
ch. 73-175; s. 1, ch.
73-178; s. 3, ch. 76-168; ss. 2, 18, ch. 76-262; s. 1, ch. 77-457; ss.
12, 30, 32,
ch. 79-347; ss. 4, 21, ch. 81-177; ss. 2, 3, ch. 81-318; s. 3, ch. 83-265;
ss. 11,
33, 34, ch. 88-90; s. 35, ch. 91-220; s. 4, ch. 91-429; s. 572, ch. 97-103;
s. 6,
ch. 97-192.
Note. --Former s. 478.23.