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Published: October 16, 2023
(Orlando, FL) Attorneys Kathleen Hugo and Anna Long presented during the Central Florida Commercial Association of Realtors’ October webinar, “New Laws Affecting Commercial Real Estate.”
Kathleen presented “Foreign Ownership of Real Property in Florida,” reviewing requirements and considerations on Florida Statutes 692.201 – 692.205. Effective July 1, 2023, direct or indirect ownership is prohibited by foreign principles in certain foreign countries. The Statutes also state an affidavit is now required to confirm compliance and that violations will result in a civil and/or criminal penalty.
Anna presented “Live Local Act,” which addressed each of the main provisions of the Act – funding, zoning and land used, tax credits, tax exemptions. Effective July 1, 2023, the Act is scheduled to sunset on October 1, 2033.
To learn more about Kathleen and to review the “Foreign Ownership of Real Property” presentation visit: https://bit.ly/3FCanVb.
To learn more about Anna and to review the “Live Local Act” presentation visit: https://bit.ly/3WtinPW.