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FL H0109
Bill
Status
Passed
5/7/2010
Primary Sponsor
Kevin Ambler
Click for details
AI Summary
- Amends Florida Statutes section 201.02 to exclude unpaid indebtedness from taxable consideration in short sale transactions of real property
- Defines "short sale" as a property purchase and sale where the grantor's mortgage debt exceeds the purchase price, the mortgagee releases the property for partial payment, the mortgagee receives no interest in the property, and the mortgagee is unrelated to the grantor or grantee
- Applies only to indebtedness that is forgiven or released by the mortgagee holding the mortgage on the property
- Takes effect July 1, 2010
Legislative Description
Excise Tax on Documents [SPSC]
Last Action
Approved by Governor; Chapter No. 2010-32; companion bill(s) passed, see CS/HB 7157 (Ch. 2010-138)
5/7/2010
Committee Referrals
Criminal & Civil Justice Policy Council3/8/2010
Finance & Tax Council10/12/2009
Full Bill Text
No bill text available