Tips for Real Estate Practitioners
The timely filing period for Homestead Exemption for 2020 ends March 1, 2020.
You are entitled to a Homestead Exemption if, as of January 1st, you have made the property your permanent home or the permanent home of a person who is legally or naturally dependent on you. January 1 of each year is the date on which permanent residence is determined.
Paragraph 1(d) of the FloridaRealtors/FloridaBar “AS-IS” Residential Contract For Sale And Purchase (ASIS-5, Rev. 4/17) does not include a washer or dryer. Best practice would be to write those items in, if applicable.
Municipal Lien Searches:
A municipal lien search may highlight issues not considered title defects.
The FloridaRealtors/FloridaBar “AS-IS” Residential Contract For Sale And Purchase (ASIS-5, Rev. 4/17) narrowly defines a municipal lien search as “a search of records necessary for the owner’s policy of title insurance to be issued without exception for unrecorded liens imposed pursuant to Chapters 159 or 170, F.S., in favor of any governmental body, authority or agency.”
Accordingly, a municipal lien search, including a search for any code violations and open or required permits, should be conducted during the inspection period.
This posting is not intended to establish an attorney-client relationship. The information contained herein is summary in nature and is provided for educational purposes only. It should not be considered as legal advice. This post is not intended as a solicitation of legal employment.