CS/CS/HB 861 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0861-02-c2
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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; prohibiting a residential loan 4
alternative agreement from authorizing a person to 5
place a lien or other encumbrance on residential real 6
property or from constituting a lien, encumbrance, or 7
security interest in such property; prohibiting a 8
court from enforcing a residential loan alternative 9
agreement by a lien or constructive trust in the 10
residential real property or upon the proceeds of the 11
disposition of such property; prohibiting the 12
assignment of a residential loan alternative 13
agreement; providing that a residential loan 14
alternative agreement is void if listing services do 15
not begin within a specified timeframe; providing that 16
a residential loan alternative agreement that does not 17
meet specified requirements is void and unenforceable; 18
prohibiting the clerk of the circuit court from 19
recording a residential loan alternative agreement; 20
providing that a violation is a deceptive or unfair 21
trade practice; providing penalties; providing an 22
effective date. 23
24
Be It Enacted by the Legislature of the State of Florida: 25
CS/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
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Section 1. Section 475.279, Flor ida Statutes, is created 27
to read: 28
475.279 Residential loan alternative agreements for the 29
disposition of residential real property. — 30
(1) As used in this section, the term: 31
(a) "Disposition" means a transfer or voluntary conveyance 32
of the title or other ownership interest in residential real 33
estate. 34
(b) "Residential loan alternative agreement" means a 35
signed writing between a person and a seller or owner of 36
residential real property that: 37
1. Grants an exclusive right to a person to act as a 38
broker for the disposition of the property; 39
2. Has an effective duration, inclusive of renewals, of 40
more than 2 years; and 41
3. Requires the person to pay monetary compensation to the 42
seller or owner. 43
(c) "Residential real property" means improved residentia l 44
property of four or fewer units or unimproved residential real 45
property intended for four or fewer units. 46
(2) A residential loan alternative agreement may not 47
authorize a person to place a lien or otherwise encumber any 48
residential real property. A res idential loan alternative 49
agreement may not constitute a lien, an encumbrance, or a 50
CS/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
security interest in the residential real property. A court may 51
not enforce a residential loan alternative agreement by a lien 52
or constructive trust in the residential real property or upon 53
the proceeds of the disposition of the residential real 54
property. 55
(3) A residential loan alternative agreement may not be 56
assigned. 57
(4) A residential loan alternative agreement is void if 58
listing services do not begin within 90 days a fter the execution 59
of the agreement by both parties. 60
(5) As a matter of public policy, a residential loan 61
alternative agreement that does not meet the requirements of 62
this section is unenforceable in law or equity. In addition, a 63
residential loan alterna tive agreement may not be recorded by 64
the clerk of the circuit court. 65
(6) A violation of this section is deemed an unfair or 66
deceptive trade practice within the meaning of part II of 67
chapter 501, and a person who violates this section is subject 68
to the penalties and remedies provided therein. 69
Section 2. This act shall take effect July 1, 2023. 70