CS/HB 861 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0861-01-c1
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to residential loan alternative 2
agreements; creating s. 475.279, F.S.; providing 3
definitions; specifying a limitation on the term of a 4
residential loan alternative agreement for the 5
disposition of residential real property; prohibiting 6
a court from enforcing a residential loan alternative 7
agreement by certain means; requiring notice to and 8
consent of the residential property owner before a 9
residential loan alternative agreement may be 10
assigned; providing construction; providing penalties 11
for violations; providing an effective date. 12
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Be It Enacted by the Legislature of the State of Florida: 14
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Section 1. Section 475.279, Florida Statu tes, is created 16
to read: 17
475.279 Residential loan alternative agreements for the 18
disposition of residential real property. — 19
(1) As used in this section, the term: 20
(a) "Disposition" means a transfer or voluntary conveyance 21
of the title or other owners hip interest in residential real 22
estate. 23
(b) "Residential loan alternative agreement" means a 24
signed writing between a person and a seller or owner of 25
CS/HB 861 2023
CODING: Words stricken are deletions; words underlined are additions.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
residential real property that: 26
1. Grants an exclusive right to a person to act as a 27
broker for the disposition of the property. 28
2. Has an effective duration of more than 2 years. 29
3. Requires the person pay compensation to the seller or 30
owner. 31
(c) "Residential real property" means improved residential 32
property of four units or fewer or unimproved r esidential real 33
property intended for four units or fewer. 34
(2) A residential loan alternative agreement for the 35
disposition of residential real property may not exceed a term 36
of 6 months and may not be renewed. 37
(3) A residential loan alternative agreem ent may not 38
authorize a person to place a lien or otherwise encumber any 39
residential real property. A residential loan alternative 40
agreement may not constitute a lien, an encumbrance, or a 41
security interest in the residential real property. A court may 42
not enforce a residential loan alternative agreement by a lien 43
or constructive trust in the residential real property or upon 44
the proceeds of the disposition of the residential real 45
property. 46
(4) A residential loan alternative agreement must require 47
notice to and written consent of the seller or owner before the 48
person may assign the residential loan alternative agreement to 49
another person. 50
CS/HB 861 2023
CODING: Words stricken are deletions; words underlined are additions.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
(5) As a matter of public policy, a residential loan 51
alternative agreement that does not meet the requirements of 52
this section is unenforceable in law or equity. In addition, a 53
residential loan alternative agreement may not be recorded by 54
the clerk of the circuit court. 55
(6) A violation of this section is deemed an unfair or 56
deceptive trade practice within the meanin g of part II of 57
chapter 501, and a person who violates this section is subject 58
to the penalties and remedies provided therein. 59
Section 2. This act shall take effect July 1, 2023. 60