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\nAuthor: amyc<\/p>\n","protected":false},"excerpt":{"rendered":"The Florida Department of Agriculture\u2019s finalized rules regarding foreign-buyer registration for agricultural property ownership took effect April 4. ORLANDO, Fla. \u2013 The Florida Department of Agriculture and Consumer Affairs Division of Consumer Services finalized its rules that prohibit certain foreign principals from owning, having a controlling interest in or acquiring more than a de minimis indirect interest in Florida land classified as agricultural by the property appraiser for tax assessment purposes as defined by s. 193.461, F.S. The rules, which became effective on April 4, relate to the 2023 Florida law \u201cConveyances to Foreign Entities\u201d in Florida Statutes Chapter 692. The registration portal can be found at https:\/\/fpregistration.fdacs.gov\/. There are distinctions between the new agricultural land rules and those previously published by the Department of Commerce regarding the registration of certain foreign principals with interest in properties proximal to military installations or critical infrastructure. Several of those are: The agricultural land rules provide fewer definitions of terms and some instances the terms are defined differently. For example, the new rules defining controlling interest in agricultural land contain different parameters than the rule defining controlling interest in real property. (with no parenthesis) The new rules cover the registration of certain foreign principals\u2019\u00a0interest in a lease of agricultural property\u2019 The registration of equitable title has no exclusion for real estate contracts which are to close within 90 days of execution. Realtors\u00ae are not part of the registration process. Due to the complexity of the new law, Realtors should advise customers to speak to counsel about their legal responsibilities. Rule Chapter 5J-27, including the six updates, can be found on the\u00a0Florida Administrative Code & Florida Administrative Register\u00a0website. They include:\u00a0 Chapter Title: Foreign Ownership of Agricultural Property 5J-27.001 \u2013 Definitions 5J-27.002 \u2013 Agricultural Land Transactions Prior to July 1, 2023 5J-27.003 \u2013 Registration 5J-27.004 \u2013 Fines 5J-27.005 \u2013 Liens 5J-27.006 \u2013 Rebuttable Presumption \u00a9 2024 Florida Realtors\u00ae \u2715 ADVERTISEMENT Go to Source Author: amyc<\/p>\n","protected":false},"author":4,"featured_media":9451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/9450"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=9450"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/9450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/9451"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=9450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=9450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=9450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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