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2019 Florida legislative session real estate changes
The 2019 legislative session in Tallahassee concluded in early May. Several new bills affecting real estate investors were passed and are headed to Governor DeSantis for signature. For real estate investors, this session was definitely more about what did not pass than what did get voted into law. Here is a summary of what happened from my layman’s interpretation. Please consult your own attorney, if you have specific questions with any of these new laws. You can read the full text of all these bills at: https://myfloridahouse.gov .
HB 7103. This was a big one that we were heavily monitoring. There was problematic language that would require anyone loaning money for a mortgage in Florida to obtain a mortgage license. The original SB 1632 bill which was then combined into SB 1730 had this language in it. Thankfully through the efforts of many private lenders including a lot of real estate investors, this language got swapped out at the last minute. The bill that ended up passing did not have the problematic language. Big thanks to all of our members who reached out to their legislators to stop this licensing requirement from happening. HB 7103 did pass and will be effective upon ... more
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