The City of Anna Maria adopted a comprehensive Vacation Rental Ordinance (“VRO”) in April of 2015. This VRO was challenged in court, and was subsequently amended a number of times by the City prior to the final version being adopted on November 19, 2015. Amongst other regulations, the VRO places a limit on the maximum [...]
Real Estate Law Insights
As we near the end of the year, now is the time for purchasers of new residences to consider the Florida homestead exemption and the many benefits it offers. To be entitled to receive a homestead exemption in 2017, you must be the owner of record of your property and have established Florida residency by [...]
Buyers and sellers of United States real estate should be aware of new changes to the Foreign Investment in Real Property Tax Act (FIRPTA) which affects closings occurring on or after February 16, 2016. When a foreign seller disposes of a United States real property interest, FIRPTA requires the buyer to deduct and withhold a [...]
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On July 21, 2010, the federal Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) became law. Dodd Frank was passed in response to the Great Recession and introduced a series of new regulations aimed at reforming the financial industry. One of the lesser known components of this massive nearly 900 page legislation was to [...]