Florida Real Estate Statutes Governing Sarasota

Florida’s real estate laws, outlined in Title XL (Real and Personal Property) of the 2024 Florida Statutes, form the legal backbone of property transactions in Sarasota. These provisions govern critical areas such as brokerage practices, contracts, mortgages, and liens, ensuring transparency, fairness, and consumer protection in the marketplace. This page highlights the most relevant statutes for Sarasota’s real estate market, with an emphasis on Chapter 475 and other key chapters. Whether you are buying, selling, or managing property, the information here will help you understand the rules, avoid pitfalls, and navigate transactions with confidence.

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Chapter 475: Real Estate Brokers and Transactions

Chapter 475 regulates real estate brokers, sales associates, and appraisers, critical for Sarasota’s bustling market. Key provisions include:

Brokerage Relationships

Section 475.278 defines two roles:

Transaction Brokers: Represent both parties with limited confidentiality, presumed unless otherwise stated.
Single Agents: Represent one party with full loyalty and confidentiality.
Written disclosures: are required before listing, representation, or showing property, applicable to residential sales (4 units or fewer), unimproved property (4 units or fewer), and agricultural property (10 acres or fewer).

Licensing

Brokers and agents must hold active licenses, with 14 hours of continuing education every two years.

Duties

Agents must deal honestly, account for funds, and disclose material facts, protecting buyers and sellers.

These rules, enforced by the Florida Department of Business and Professional Regulation, ensure ethical practices.

Other Key Statutes in Title XL

Additional chapters relevant to Sarasota include:

Chapter 689

Governs conveyances of land, detailing deed requirements and trust declarations.

Chapter 695

Mandates recording of conveyances for legal validity, critical for title transfers.

Chapter 697

Defines mortgage instruments, outlining lender and borrower rights.

Chapter 701

Covers mortgage assignments and cancellations, streamlining ownership changes.

Chapter 702

Details foreclosure processes, including judicial and non-judicial options.

Chapter 712

The Marketable Record Title Act simplifies title proof after 30 years, reducing disputes.

Chapter 713

Regulates mechanic’s liens, ensuring contractors are paid for work.

These statutes protect property rights and resolve disputes, accessible via Florida Statutes.

Federal Laws Impacting Sarasota

Federal laws complement state statutes:

Fair Housing Act

Prohibits discrimination based on race, color, religion, sex, disability, familial status, or national origin.

RESPA

Requires lenders to disclose mortgage costs, preventing hidden fees.

Compliance with these laws is mandatory for Sarasota transactions, especially in diverse communities.

Applying Statutes in Sarasota

In Sarasota, these statutes guide every transaction stage:

Contracts

Chapter 475’s disclosure rules protect buyers from hidden defects, as detailed in Buyers and Sellers Contracts.

Title Transfers

Chapter 695 ensures recorded deeds, verified via Sarasota County Property Appraiser.

Disputes

Chapter 702’s foreclosure rules resolve payment issues, while Chapter 713 protects contractors.

For example, a seller failing to disclose flood damage risks liability under Chapter 475, while a contractor can file a lien under Chapter 713 for unpaid work.