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A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
Instead, a homeowner on title (or the beneficiary of a trust, a person legally or naturally dependent upon the owner or lessees having an original term of 98 years or more, all having to meet "equitable title to real estate" law) must file for a homestead exemption with the Property Appraiser in the county in which the property is located.
A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring their interest in the property.
This Florida couple bought a vacant lot for $17,500 — but now they’ve discovered they’re barred by law from building on the new property. Here’s why and how to avoid a similar situation
Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party ...
Florida’s law prohibits most citizens of China, Cuba, Iran, North Korea, Russia, Syria and Venezuela from buying real estate close to a military compound or critical infrastructure, the Miami ...
Legislation proposed by Florida lawmakers for a special session in the upcoming week to reform the state’s property insurance market would create a $2 billion reinsurance fund.
Florida is one of several states where the courts are required to be involved in every step of the foreclosure process. By 2012, it took three years to complete the process. In nonjudicial states, it takes an average of 100 days.