I have had this question several times as I deal with bank foreclosure properties. I understand from a buyer asking as they dont likely know the laws that Realtors in the state of Florida go by but when another Realtor ask you then that is something I always do feel a need to respond to. I dont sugar coat it as the question shouldnt be asked by another Realtor in the first place. Do I check whose on title when listing a property, of course I do per public records. What do I respond with though I say no Realtor should be giving an opinion of title as we dont do an abstract of title and we rely on licensed title agents with their closing offices (who would rely on an attorney) to give the opinion as that is practicing law.
I only go into a further explanation if they say others have told them their opinions on other property then I send them the statute.
" Florida Statutes 475.25(j) has been passed by the Florida Legislature specifically to address this situation. Under this law, no one with a Florida real estate license is allowed to give any opinion on the title to real estate. What they can, and should, do is obtain the legal opinion on title from a Florida real estate lawyer and then pass that legal opinion on to their clientele.
Florida Statute 475.25(j) states that a real estate professional is subject to losing their license if he or she:
“[h]as rendered an opinion that the title to any property sold is good or merchantable, except when correctly based upon a current opinion of a licensed attorney at law, or has failed to advise a prospective purchaser to consult her or his attorney on the merchantability of the title or to obtain title insurance.” "
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