CS/CS/CS/HB 861 2023
CODING: Words stricken are deletions; words underlined are additions.
hb0861-03-c3
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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 ES
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 on or otherwise encumber any residential 6
real property or from constituting a lien, an 7
encumbrance, or a security interest in such property; 8
prohibiting a court from enforcing a residential lo an 9
alternative agreement by a lien or constructive trust 10
in the residential real property or upon the proceeds 11
of the 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; prohibiting 16
the clerk of the circuit court from recording a 17
residential loan alternative agreement; providing that 18
a residential loan alternative agreement that does not 19
meet specified requirements is unenforceable; 20
providing that a violation is an unfair or deceptive 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/CS/HB 861 2023
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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 ES
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Section 1. Section 475.279, Florida 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 or a signed and written legal instrument or 36
contract between a person and a seller or owner of residential 37
real property that: 38
1. Grants an exclusive right to a person to act as a 39
broker for the disposition of the property; 40
2. Has an effective duration, inclusive of renewals, of 41
more than 2 years; and 42
3. Requires the person to pay monetary compensation to the 43
seller or owner. 44
(c) "Residential real property" means improved residential 45
property of four or fewer residential dwelling units or 46
unimproved residential real property on which four or fewer 47
residential dwelling units may be built. 48
(2) A residential loan alter native agreement may not 49
authorize a person to place a lien on or otherwise encumber any 50
CS/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 ES
residential real property. A residential loan alternative 51
agreement may not constitute a lien, an encumbrance, or a 52
security interest in the residential real property. A court may 53
not enforce a residential loan alternative agreement by a lien 54
or constructive trust in the residential real property or upon 55
the proceeds of the disposition of the residential real 56
property. 57
(3) A residential loan alternative agreement may not be 58
assigned. 59
(4) A residential loan alternative agreement is void if 60
listing services do not begin within 90 days after the execution 61
of the agreement by both parties. 62
(5) A residential loan alternative agreement may not be 63
recorded by the clerk of the circuit court. 64
(6) A residential loan alternative agreement must meet all 65
of the requirements of this section or it is unenforceable in 66
law or equity. 67
(7) Notwithstanding s. 501.212, a violation of this 68
section is deemed an unfair or deceptive tra de practice within 69
the meaning of part II of chapter 501, and a person who violates 70
this section is subject to the penalties and remedies provided 71
therein. 72
Section 2. This act shall take effect July 1, 2023. 73