FL S0770

Creates section 475.279 of Florida Statutes to regulate residential loan alternative agreements for disposition of residential real property with exclusive broker rights lasting more than 2 years and requiring monetary compensation.

Prohibits such agreements from authorizing liens or encumbrances on residential real property and prevents courts from enforcing them through liens or constructive trusts.

Voids any residential loan alternative agreement if listing services do not begin within 90 days after execution by both parties.

Prohibits the clerk of the circuit court from recording these agreements and prevents their assignment.

Establishes violations as unfair or deceptive trade practices subject to penalties and remedies under Florida's consumer protection statutes, effective July 1, 2023.