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In the application of creative financing, a land trust can be used to take control of a property while keeping the name of the owner private. While this does not prevent the lending institution from invoking the due on sale clause, it will make it harder for the lending institution to detect that the property has been sold using creative financing.
Gulf American Land Corporation (GALC) was a land development company in Florida founded by brothers Leonard and Jack Rosen. During the late 1950s and 1960s, GALC was the largest land sales company in the United States. [2] The company is noted for its role in the development of Cape Coral, and pioneering the sales method of installment land ...
If any owner or real estate agent sells land or a residence near one of these sites to foreign nationals covered by the measure, they face fines if convicted from $500 to $15,000.
Florida's economic decline predated the start of the Great Depression. Therefore, it had fewer resources and more debt "than other regions of the nation." Large amounts of local debt financing through bonds worsened the economic situation in the state with most of it coming from the years of the land boom.
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Florida's debtor protection homestead provision is one of the broadest in the United States.The value of the property that can be protected is unlimited, so long as the property occupies no more than one-half acre (2,000 sq m) within a municipality, or 160 acres (650,000 sq m) outside of a municipality.
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This is page 8 of 53, depicting a parcel of land adjacent to the St. Johns River. Spanish land grants documented claims of land ownership when Spain ceded the territory of Florida to the United States in 1821. Under Spanish rule, land grants were offered to settlers beginning in 1790, to induce settlement of the colony.
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