2017 Mid-Winter Meeting legal updates
Several Florida Realtors attorneys presented a Legal Update at the Mid-Winter Meetings on Friday, Jan. 27, 2017.
January 19, 2017: Redline versions of FloridaRealtors/FloridaBar Residential Contract and As Is companion
The 2017 revisions to the FloridaRealtors/FloridaBar Residential Contract and its As Is companion are limited. The most significant change is to the financing paragraph, (terms were changed, as were the parties' right to terminate after loan approval date expires, if the loan was not obtained). Paragraph 9(c) now provides municipal lien search parameters. Several tweaks were added to seller's obligations where there are permit or building code issues as well as other housekeeping modifications.
Live versions of these updated contracts will be available through Form Simplicity and other forms vendors on April 4, 2017.
May 20, 2016: ADA Compliant Websites and What You Need to Know
April 7, 2016: HUD's no-convict rule: Do's and don'ts
Screening by housing providers may need to change. Read NAR's legal brief here.
Department of Financial Services Ruling
Updated contracts due to legislative changes
Update Feb. 4, 2016: Due to legislative changes to the Foreign Investment in Real Property Tax Act (“FIRPTA”), Standard V (FIRPTA ) of the Florida Realtors/Florida Bar Residential Contract For Sale And Purchase form and its AS IS companion have been revised. The revision dates and form numbers also reflect these updates. The Florida Realtors Contract for Residential Sale and Purchase (CRSP-14a) FIRPTA Addendum has also been revised. The revised forms will be released on Monday, Feb. 15, 2016.
View the redline or highlighted contract versions:
Legal Updates: Mid-Winter Business Meetings 2016
Download these presentations for an overview of the Legal Update Forum during the 2016 Florida Realtors Mid-Winter Meetings in January.
Updated Contracts as a result of CFPB Regulations
Update Oct. 3, 2015: The Florida Realtors/Florida Bar Residential Contract, its AS IS companion, three of its Riders, the Florida Realtors Residential Contract, and one of its addenda have been revised and are now live on Form Simplicity and through other forms vendors. Changes are minimal and are a result of new CFPB regulations impacting the lending industry.
Redlined versions of the forms – with changes indicated – are available for download below for review.
The previous versions of these forms have been removed from Form Simplicity. Please note, with regard to the FloridaReators/FloridaBar forms, format is not yet final, including placement of asterisks.
Redline or highlighted versions:
Summary of revisions:
Oct. 20, 2014: Updated redline/highlighted residential contracts
The Florida Realtors/Florida Bar Residential Contract, its AS IS companion and several of the Comprehensive Riders are now live and available in Form Simplicity and through other forms vendors. Changes are minimal and are a result of marketplace issues or law changes.
Redline or highlighted versions
We are providing redline/highlighted versions of the forms – with changes indicated – and a summary of the changes. The "Talking Contract" will soon be available again, and will include the revisions.
Summary of Revisions