Category: Title Services
06/09/08
New Verification of Contract Deposits Required
Effective Dec. 6, 2007, new Florida administrative rule, Fla. Admin. Code R. 61j2-14.008(2) (b), requires real estate licensees who prepare or present a sales contract to state on the contract the name, address, and telephone number of the attorney or title company who will be holding a deposit. It requires the licensee’s broker to request written verification of the receipt of the deposit from the attorney or title company within three business days after each deposit is due.
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