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Assigning Options in Florida Illegal Without a License
I can't see the assignment of an option being illegal if the contract doesn't prohibit it or especially if it is stated as a right to do in the agreement as it's also a matter of commerce in Nike Air Max Zero Violet
We have the same view here, enforced by the RE Commission. Birddogging, is an issue. But the frequency of doing an assignment of a contract is important too. If you do Air Max 1 Safari Atmos
a deal once, assigning contracts it's not an issue, if someone is running around and doing the 15th deal (example) they pull the facilitating phrase out to be applied.
assigning options, bills, commercial paper and other contracts, but I don't know FL, here are some Air Max Zero Red And White FL folks:
This part does not apply to: .
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"for a fee" requires a license. Under definitions, I believe, "real property" includes assignments. That being said, if you were facilitating an assignment, for someone else, for a fee, that would fall under licensing requirements. But, I believe collecting a fee for an assignment where you are the principal, is not covered. I suspect the Guru may have been just trying to put down assignments, to promote his other "better" method. I'm not promoting assignments, I don't let wholesalers tie up my properties/listings. I just don't find anything about regarding options at all in Ch475.
Check in RE agent's requirements with the RE Commission, they may list assigning contracts as a license requirement. I check the state site for the finance dept, probably over the RE commission and it seems the state laws are under construction! Many have been repealed and doesn't look like they have adopted new ones yet.
I am not an attorney, so who knows for sure. I was just wanting to throw it out there in hopes that someone knows more.
I heard a well know real estate guru mention a few times now that you can not assign options or lease options (like a cooperative) in the state of Florida without it going through a licensed real estate agent / broker. They said that sandwich lease options are okay because you stay in the deal, but that you cannot legally do assignments without it going through a licensed agent / broker.
I agree that you are selling an option contract and not the dirt, but you might consider viewing it as facilitating the ultimate sale by using a method that is being implemented consistently with the expectation is to ultimately transfer title.
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Read chapter 475 Fl statutes. From memory, "facilitating the sale, rent, etc of "real property", Nike Air Max 97 Navy Blue
What I don't see in the FL real estate brokerage code as an exemption is if a layperson can buy their own real property. That implies that all buyers must go through a broker. The exceptions seem to be if a person buys a radio, television, or cable enterprises (475.011(6)) or the person is an employee of a public utility (475.011(3)). Note that radio, television, and cable enterprises are commercial in nature. So as written, FL law doesn't allow a person to purchase commercial property without having a broker. And possibly if it were a sandwich lease option, even with no money of out pocket, the consideration is substantial because you are responsible to the seller for the lease term and payment of such.
(2)?Any individual, corporation, partnership, trust, joint venture, or other entity which sells, exchanges, or leases its own real property;
I should mention that well known said "guru" is based in Florida and sells courses on cooperative lease options. He was speaking of ANY assignment of option, meaning even when assigning an option to purchase agreement.
You might also look at "net listing" issues, not saying it applies, but agents have to ensure they are not engaging in some method or systematic contractual transaction that nets a fee for services or facilitates a sale above the price received by the seller. If you aren't in title I would think this would be a concern being in any chain with an increased sale price. :)
Just wanting to cover my bases. Looking for an actual reference to the law if it's there.
In this case I am speaking of cooperative lease options, meaning I am assigning my interest and rights in the lease option as a principle to the end tenant buyer.
I cannot find that statute anywhere and I have called the Florida Association of Realtors legal line to ask and the particular attorney I talked to had not heard of it. That doesn't mean it doesn't exist I just want to know where.
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