Real Estate

Real Estate

What Is the Current Sales Tax on Commercial Rentals in Florida?

May 9, 2024

What Is the Current Sales Tax on Commercial Rentals in Florida?
Florida imposes a sales tax on commercial leases of real property, one of the few states to do so. As of May 9, 2024, the state sales tax rate on such leases stands at 4.5 percent, following a decrease from 5.5 percent due to the implementation of House Bill (...
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Real Estate

Senate Bill 264: Impact on Florida Real Estate Transactions

May 24, 2023

Senate Bill 264: Impact on Florida Real Estate Transactions
On July 1, 2023, Governor Ron DeSantis signed Senate Bill 264, known as the Interests of Foreign Countries Act, transforming the regulatory landscape of real estate transactions in Florida. This unprecedented legislation limits and regulates foreign principals...
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Real Estate

Brevard County Real Estate Market Analysis for April 2023

May 17, 2023

Brevard County Real Estate Market Analysis for April 2023
As we delve into Brevard County, Florida's real estate market trends, April 2023 presents various developments. The data, which encompasses single-family homes and townhouses/condos, reflects certain buying trends, pricing, and inventory availability shif...
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Real Estate

Brevard County Zoning Meeting: Key Decisions & Public Input, Mar 2, 2023

Apr 26, 2023

Brevard County Zoning Meeting: Key Decisions & Public Input, Mar 2, 2023
The County Commission meeting began at 5:03 PM, with Commissioners from Districts 1 through 5 in attendance. The Board of County Commissioners acts as a quasi-judicial body when addressing rezoning and Conditional Use Permit requests. Both applicants and oppon...
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Real Estate

Brevard County Real Estate Market Shows Mixed Performance in Q1 2023

Apr 26, 2023

Brevard County Real Estate Market Shows Mixed Performance in Q1 2023
The real estate market in Brevard County, Florida, has experienced some interesting changes in the first quarter of 2023, according to the Brevard County Residential Report. The report reveals that the number of closed sales for Q1 2023 was 2,471 units, a 9.9%...
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Real Estate

Florida Homebuyers Beware: 10 Tips for Identifying Common Home Defects

Florida Homebuyers Beware: 10 Tips for Identifying Common Home Defects
Identifying home defects before purchasing a property is crucial for several reasons, especially in Florida where there are specific concerns that homebuyers should be aware of. A home is a significant investment, and it is essential to ensure that it is struc...
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Real Estate

Deed Fraud: Forgery, Damages & Remedies

Thomas Patricks

Aug 18, 2022

Deed Fraud: Forgery, Damages & Remedies
Under Florida law, a deed is a written instrument that creates, makes, grants, transfers, or releases an estate, a freehold interest, or an interest for a term of more than one year in, of, or out of any messuages, lands, tenements, or hereditaments.[1] Deeds ...
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Real Estate

Taxation for Foreign Real Estate Investors

Taxation for Foreign Real Estate Investors
If you are a non-US person living outside the US and are considering investing in US real estate it’s important to understand taxation for foreign real estate investors.  It’s equally important to remember that the information is not a substitute for personal ...
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Real Estate

Special Rules for Rental Applications for Members of the Armed Forces

Special Rules for Rental Applications for Members of the Armed Forces
Military members are afforded certain protections and benefits while in active duty, including protections relating to housing and accommodations. For this reason, landlords need to be aware of the laws that can affect the landlord’s relationship with its mili...
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Real Estate

Landlord and Tenant Obligations to Maintain Residential Property in Florida

Landlord and Tenant Obligations to Maintain Residential Property in Florida
The landlord-tenant relationship involves more than the exchange of rent payments for access to residency. In Florida, when a landlord and tenant enter into a lease agreement, they agree to be bound by a plethora of terms, whether express in the agreement or i...
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Real Estate

FIRPTA: What Foreign Investors of US Real Estate Need to Know

FIRPTA: What Foreign Investors of US Real Estate Need to Know
Non-U.S. individuals and corporations investing in real estate within the United States will need to be familiar with one of the biggest challenges facing foreign nationals involved in U.S. real estate: the Foreign Investment in Real Property Tax Act (FIRPTA)....
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Real Estate

The Significance of an Owner’s Affidavit in a Real Estate Purchase

The Significance of an Owner’s Affidavit in a Real Estate Purchase
When a person sells a house, vacant land, or other piece of property, there are certain requirements that must be followed. Most states require an affidavit of title. An affidavit of title is a document specifying that a property seller owns the property.[1] I...
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Real Estate

Four Tax Considerations for Real Estate Investment Purchases

Four Tax Considerations for Real Estate Investment Purchases
Real estate can be a great investment; when executed tactfully investors can expect to see great returns. One of the principal advantages of investing is the plethora of options available to optimize an investor’s tax situation. From tax-advantaged retirement ...
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Real Estate

Housing Cooperatives: What UHF v. Forman Means for Real Estate Investors

Housing Cooperatives: What UHF v. Forman Means for Real Estate Investors
When it comes to real estate, although significantly different from owning a condo or renting an apartment, individuals may consider investing in a housing cooperative[1] (often referred to as “co-op”). In considering whether to do so, purchasers should determ...
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Real Estate

Prewitt & Warrick: Narrowing Homestead Exemption Field

Prewitt & Warrick: Narrowing Homestead Exemption Field
Prewitt Mgmt. Corp. v. Nikolits is an appellate case that involved a dispute between appellant, Hal D. Prewitt (Prewitt) and appellee, Gary R. Nikolits (Nikolits).[1] Prewitt was the sole shareholder of an S corporation, Prewitt Management Corp. (PMC), and Nik...
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