Florida Real Estate Study Guide 2026 — Free Cheat Sheet

A voluntarily inactive licensee may renew as inactive every two years. If a licensee does not elect to renew after receiving the renewal notice sent to the address of record, the status automatically reverts to involuntarily inactive.

• ✓A voluntarily inactive licensee may renew as inactive every two years by submitting a request to DBPR, satisfying required continuing education, and paying the fee in Rule 61J2-1.011
• ✓A renewal notice is sent to the licensee's address of record; failure to elect renewal automatically reverts status to involuntarily inactive

An involuntarily inactive licensee may renew by request to DBPR, complying with Rule 61J2-3.010, and paying the current renewal fee plus any applicable late fee. However, once involuntary inactivity exceeds two years the license automatically expires.

• ✓An involuntarily inactive licensee may renew by submitting a request to DBPR, complying with Rule 61J2-3.010, and paying the current renewal fee plus any applicable late fee
• ✓When total involuntary inactivity exceeds 2 years, the license automatically expires per Section 475.183(2), F.S.
• ✓DBPR must give notice to the involuntarily inactive licensee 90 days prior to expiration

A natural person applying for active licensure (alone, partner, corporation, or sales associate) is governed by substantially the same rules and forms. Applicants must be at least 18 years old and hold a high school diploma or its equivalent. Broker applicants must additionally meet experience requirements.

• ✓Applicant must be 18 years of age or older
• ✓Applicant must hold a high school diploma or its equivalent
• ✓Same rules and forms apply whether operating alone, as a partner, with a corporation, or as a sales associate

Applicants must enable immediate inquiry into their honesty, truthfulness, trustworthiness, good character, and reputation for fair dealing. They must disclose criminal history (any conviction, guilty/nolo plea regardless of adjudication, or pending investigation), use of other names/aliases, prior license discipline (revocation, suspension, surrender, etc.) in any jurisdiction, and any prior denial of a real estate license. Each applicant must submit digital fingerprint data for a criminal history check.

• ✓Must disclose any conviction or guilty/nolo plea regardless of adjudication in any jurisdiction, or current criminal investigation
• ✓Must disclose any other names or aliases used
• ✓Must disclose any license/permit revocation, suspension, surrender, or discipline in any jurisdiction and pending proceedings
• ✓Must disclose any prior denial of a real estate license in any jurisdiction
• ✓Each applicant must submit digital fingerprint data for criminal history processing

Broker, Sales Associate, and Instructor exams are graded on 100 points; a score of 75 or higher passes. The sales associate exam covers law, principles and practices, and real estate mathematics, weighted 45 points law, 45 points principles/practices, and 10 points math. The broker and instructor exams cover law, principles and practices (including appraising, finance, investment, brokerage management), and math, weighted 45 points law, 40 points principles/practices, and 15 points math.

• ✓Passing grade is 75 points or higher out of 100
• ✓Sales associate exam: 45 points law, 45 points principles/practices, 10 points mathematics
• ✓Broker/instructor exam: 45 points law, 40 points principles/practices, 15 points mathematics
• ✓Broker exam principles include appraising, finance, investment, and brokerage management

Anyone seeking a Florida real estate sales associate license must satisfactorily complete the Commission-prescribed Course I. This course covers the basic fundamentals of real estate principles and practices, basic real estate, and license law. It totals 63 hours (each hour being 50 minutes), inclusive of the end-of-course examination.

• ✓Course I is required for sales associate licensure and consists of 63 hours of 50 minutes each, inclusive of examination
• ✓A 50-minute classroom hour means 50 minutes of instruction, exclusive of breaks, recesses, or non-instruction time
• ✓Course I covers real estate principles and practices, basic real estate, and license law

A licensed sales associate seeking a broker license must satisfactorily complete the Commission-prescribed Course II. This course covers the fundamentals of real estate appraising, investment, financing, and brokerage and management operations. It totals 72 hours (each 50 minutes), inclusive of the end-of-course examination.

• ✓Course II is required for broker licensure and consists of 72 hours of 50 minutes each, inclusive of examination
• ✓Course II covers appraising, investment, financing, and brokerage/management operations
• ✓A licensed sales associate must complete Course II to become a broker

Satisfactory completion of a pre-licensing course requires a grade of 70% or higher on the Commission-prescribed end-of-course examination. The school administers the exam after instruction is complete, provided the student has not missed more than 8 hours of classroom instruction.

• ✓A grade of 70% or higher on the end-of-course exam constitutes satisfactory completion
• ✓A student may not have missed more than 8 hours of classroom instruction to take the exam
• ✓Satisfactory course completion does not entitle a person to a license until all other legal requirements and the state exam are passed

Students who fail the pre-licensing end-of-course examination must wait at least 30 days from the original exam date to retest. Within one year of the original exam, a student may retest a maximum of one time. Otherwise, the student must repeat the entire course before taking the exam again. A different exam form must be given for retakes or repeats.

• ✓A student must wait at least 30 days from the original exam to retake it
• ✓Within one year, a student may retest only one time before having to repeat the course
• ✓Schools must administer a different exam form to students retaking or repeating

Active and inactive brokers and sales associates must complete at least 14 hours of instruction (50 minutes each) during each license renewal period, excluding the first renewal period of their current license. This includes 3 hours Core Law, 3 hours Business Ethics, and at least 8 hours of specialty education.

• ✓14 hours of CE required each renewal period, excluding the first renewal period
• ✓Must include 3-hour Core Law course once per renewal period
• ✓Must include 3-hour Business Ethics course once per renewal period (licenses expiring 9/30/2018 or later)
• ✓Specialty course hours must total at least 8 hours

A grade of 80% or higher on the CE course examination constitutes satisfactory completion. Students failing must repeat the course before retaking a different exam. For classroom CE, a provider issues completion notice only to licensees attending at least 90% of classroom hours. No CE exam may contain more than 20% question duplication.

• ✓A grade of 80% or higher is required to pass a CE course exam
• ✓Students must attend at least 90% of classroom hours to receive a completion notice
• ✓No CE exam may contain more than 20% duplication of questions

All applicants who pass a broker or sales associate exam must complete a Commission-prescribed post-licensing course before their first renewal after initial licensure. Sales associates complete 45 hours; brokers complete 60 hours (the statutory maximums). Courses must be training oriented and build on pre-licensing knowledge.

• ✓Post-licensing course must be completed before the first renewal following initial licensure
• ✓Sales associate post-licensing education is 45 hours; broker post-licensing education is 60 hours (statutory maximums under s. 475.17(3)-(4))
• ✓Post-licensing courses must be training-oriented and build on pre-licensing knowledge

A grade of 75% or higher on the post-licensing end-of-course exam constitutes satisfactory completion. Students may not miss more than 10% of instruction. Providers develop at least 2 unique exam forms; exams contain at least 100 items (or minimum 50 for courses 30 hours or less). At least 70% application-level, no more than 10% knowledge-level.

• ✓A grade of 75% or higher is required to pass a post-licensing exam
• ✓Students may not miss more than 10% of the instruction
• ✓Exams need at least 2 unique forms; minimum 100 items (50 for courses of 30 hours or less)
• ✓At least 70% application-level questions; no more than 10% knowledge-level

Every real estate partnership must be registered with FREC, and at least one of its partners must be licensed or registered as an active broker. Any partner who expects to deal with the public as a broker must hold a valid, current active broker's license or registration.

• ✓Every partnership shall be registered with at least one partner licensed/registered as an active broker
• ✓Each partner dealing with the public as a broker must hold a valid, current active broker's license

No registration is granted or renewed for a corporation if a person in control has had a license denied, revoked, or suspended and not reinstated; has been convicted of a felony without civil rights restored for at least 5 years; or has had an injunction entered for operating as a licensee without a license. A person is deemed in control where that person (or spouse, children, or household member) owns or controls, directly or indirectly, more than 40 percent of the voting stock.

• ✓No corporate registration if a controlling person's license was revoked/suspended/denied and not reinstated, or convicted felon without 5-year civil rights restoration
• ✓Control means owning/controlling (directly or indirectly) more than 40% of voting stock, including via spouse, children, or household member

All officers and directors of a real estate brokerage corporation (domestic or foreign) must be registered. No registration is issued to the corporation or licenses to any officer/director unless the corporation registers and biennially renews the license of at least one active officer. A foreign corporation must biennially prove that at least one active officer holding a valid, current active license is authorized to transact brokerage business in Florida and to bind the corporation.

• ✓Corporation must register and biennially renew at least one active officer's license
• ✓All officers and directors of a brokerage corporation must be registered

Officers and directors who will be active must qualify and become licensed the same way as any active-license applicant. No registration is issued unless every broker licensed with the corporation/partnership is registered as an officer, director, or partner. A sales associate or broker associate may NOT be registered as an officer or director of a brokerage corporation, nor as a general partner of a brokerage partnership.

• ✓Every broker licensed with the entity must be registered as an officer, director, or partner
• ✓No sales associate or broker associate may be an officer/director of a brokerage corporation or a general partner of a brokerage partnership

A brokerage must always have its officers/directors registered. If a brokerage has only one active broker who dies, resigns, or is unexpectedly unable to serve, the vacancy must be filled within 14 calendar days, during which no new brokerage business may be performed. The brokerage must immediately notify the Commission of the vacancy and steps taken. Failure to appoint another active or temporary broker within 14 calendar days results in automatic cancellation of the brokerage registration, and all broker associates' and sales associates' licenses become inactive.

• ✓Sole active broker vacancy must be filled within 14 calendar days, with no new brokerage business performed during that period
• ✓Failure to fill within 14 days automatically cancels the brokerage registration and inactivates associates' licenses

Every broker must maintain a registered office pursuant to Section 475.22(1), F.S. The required office may be located in a residential location, provided it is not contrary to local zoning ordinances, the minimum office requirements are met, and the required broker's sign is properly displayed. Sales associates must be registered from and work out of an office maintained and registered in the name of their employer.

• ✓The required office may be in a residential location if not contrary to local zoning ordinances and minimum office requirements are met
• ✓The required broker's sign must be properly displayed pursuant to Section 475.22(1), F.S.
• ✓Sales associates must be registered from and work out of an office maintained and registered in the name of the employer

If a broker desires to conduct business from more than one office, each additional office must be registered as a branch office and the branch office fee must be paid. A mere temporary shelter on a subdivision being sold by the broker (for protection of salespersons and customers, where transactions are not closed and salespersons are not permanently assigned) is NOT a branch office. The permanence, use, and character of activities determine whether registration is required. Application may be made using Form DBPR RE 8.

• ✓Each additional office beyond the main office must be registered as a branch office with fee paid
• ✓A temporary shelter on a subdivision where transactions are not closed and salespersons are not permanently assigned is not a branch office
• ✓The permanence, use, and character of activities determines whether an office must be registered as a branch office

All advertising must be done in a manner where reasonable persons would know they are dealing with a real estate licensee. All real estate advertisements must include the licensed name of the brokerage firm. No advertisement placed or caused to be placed by a licensee may be fraudulent, false, deceptive, or misleading. When the licensee's personal name appears, at minimum the licensee's last name must be used exactly as registered with the Commission.

• ✓All real estate advertisements must include the licensed name of the brokerage firm
• ✓Advertising must make reasonable persons aware they are dealing with a real estate licensee
• ✓No advertisement may be fraudulent, false, deceptive, or misleading
• ✓When the licensee's personal name appears, at least the last name must be used as registered with the Commission

Any licensee who receives, directly or indirectly, any kickback or rebate for placement of or favor in a business transaction that is part of or incident to a transaction handled by the licensee violates Section 475.25(1)(b) or (d), F.S., UNLESS the licensee, prior to the placement, fully advised the principal and all affected parties of all facts pertaining to the kickback or rebate. Sharing brokerage compensation with a party to the transaction, with full disclosure to all interested parties, is NOT a violation.

• ✓Receiving a kickback or rebate without prior full disclosure to the principal and all affected parties violates Section 475.25(1)(b) or (d), F.S.
• ✓Full disclosure to all affected parties before the transaction placement avoids a violation
• ✓Sharing brokerage compensation with a party to the transaction with full disclosure to all interested parties is not a violation

A broker or sales associate who furnishes a rental information list to a prospective tenant for a fee paid by the tenant must provide a written contract or receipt agreement containing the required statutory NOTICE in 10-point bold or larger type. The notice states: if the rental information is not current or accurate in any material aspect, the tenant may demand a return of the full fee within 30 days of the contract date; if the tenant does not obtain a rental, they are entitled to a return of 75% of the fee if demand is made within 30 days of the contract date.

• ✓The rental information contract must contain the statutory NOTICE in 10-point bold or larger type
• ✓If information is not current/accurate in a material aspect, the tenant may demand a full refund within 30 days
• ✓If the tenant does not obtain a rental, they are entitled to a 75% refund if demand is made within 30 days

Upon receiving conflicting demands for trust funds in the broker's escrow account, a broker must provide written notification to the Commission within 15 business days of the last party's demand and must institute one of the statutory settlement procedures within 30 business days after the last demand. A broker with good faith doubt as to who is entitled to trust funds must notify the Commission within 15 business days after having such doubt and institute a settlement procedure within 30 business days.

• ✓Written notification to the Commission is required within 15 business days of conflicting demands or good faith doubt
• ✓One of the settlement procedures under 475.25(1)(d)1., F.S., must be instituted within 30 business days
• ✓Good faith doubt determination is based on the facts of each case brought before the Commission

If a party to a failed real estate sales transaction does not respond to the broker's inquiry about placing a demand or releasing funds, the broker may send a certified Notice (return receipt requested) or emailed Notice to the party's address of record with DBPR. The Notice must state a demand has been placed by the other party, that a response must be received by the seventh business day following dispatch, and show the broker's mailing address, phone, and email. Failure to respond within seven business days is construed as authorization to release funds to the other party.

• ✓The broker may send a certified or emailed Notice to the non-responding party's address of record with DBPR
• ✓The Notice must require a response by the seventh business day following dispatch
• ✓Failure to respond within seven business days authorizes the broker to release funds to the other party

If a broker institutes a settlement procedure other than an Escrow Disbursement Order (EDO), the broker must notify the Commission within 30 business days of receipt of the last demand or good faith doubt. If a broker requests an EDO and is notified none will be issued, the broker must institute another settlement procedure and notify the Commission within 30 business days. If a broker requests an EDO and the dispute is settled or goes to court before the Order issues, the broker must notify the Commission within 10 business days.

• ✓Notify the Commission within 30 business days when instituting a settlement procedure other than an EDO
• ✓If told no EDO will be issued, institute another procedure and notify the Commission within 30 business days
• ✓If the dispute settles or goes to court before an EDO issues, notify the Commission within 10 business days

'Current mailing address' is the address used by a licensee or permit holder to receive mail through the U.S. Postal Service; 'place of practice' is the physical location of the real estate brokerage office maintained under Section 475.22(1), F.S. Each licensee and permit holder must notify the Department in writing of the current mailing and email address and any change within 10 days after the change. A first-time failure results in a Citation; second or subsequent violations result in disciplinary proceedings.

• ✓Licensees and permit holders must notify the Department in writing of mailing/email address changes within 10 days
• ✓A first-time failure to notify results in a Citation
• ✓Second or subsequent violations result in disciplinary proceedings

A 'trust' or 'escrow' account must be an account in a bank, trust company, title company with trust powers, credit union, or savings and loan association within Florida. Only funds described in the rule may be deposited, and no personal funds of any licensee may be intermingled with escrowed funds except as permitted for authorized personal/brokerage funds.

• ✓Escrow accounts must be located in a Florida bank, trust company, title company with trust powers, credit union, or savings and loan
• ✓No personal licensee funds may be intermingled with escrow funds except as allowed under 61J2-14.010(2)

'Immediately' means placing a deposit into an escrow account no later than the end of the third business day following receipt of the item. Saturdays, Sundays, and legal holidays are not counted as business days. Receipt by a sales associate or brokerage representative counts as receipt by the broker.

• ✓A broker must deposit funds no later than the end of the 3rd business day after receipt
• ✓Saturdays, Sundays, and legal holidays are not business days

Every sales associate who receives a deposit must deliver it to the broker or employer no later than the end of the next business day following receipt. Saturdays, Sundays, and legal holidays are not counted as business days. Receipt by a sales associate constitutes receipt by the broker, which starts the broker's 3-business-day deposit clock.

• ✓Sales associate must deliver a deposit to the broker by the end of the next business day after receipt
• ✓Receipt by a sales associate is legally receipt by the broker for the 3-day deposit rule

Every broker who receives any deposit, money, check, or item of value must immediately place it in an insured escrow or trust account at a Florida bank, savings and loan, trust company, credit union, or title company with trust powers. The broker must be a signatory on all escrow accounts; if there are multiple broker licensees, one may be designated as the signatory. Securities intended for conversion must be converted at the earliest practical time and the proceeds immediately deposited.

• ✓Deposited funds must go into an insured escrow/trust account and the broker must be a signatory on all escrow accounts
• ✓With multiple broker licensees, one broker may be designated as the escrow signatory

A broker may place up to $1,000 of personal or brokerage funds in each sales escrow account and up to $5,000 in each property management escrow account; personal/brokerage funds may not exceed $5,000 per account. Brokers get a reasonable time (30 days from the last reconciliation date) to correct escrow errors when there is no shortage and no significant threat of harm to the public.

• ✓Maximum personal/brokerage funds: $1,000 per sales escrow account and $5,000 per property management escrow account
• ✓'Reasonable time' to correct non-shortage escrow errors is 30 days from the last reconciliation date

Once monthly, a broker must prepare a written statement comparing total trust liability with the reconciled bank balances of all trust accounts. Trust liability is the sum of all deposits received, pending, and held. The reconciliation must include the reconciliation date, date used to reconcile, bank name(s), account name(s) and number(s), balances and dates, deposits in transit, outstanding checks by date and number, and an itemized list of trust liability. The broker must review, sign, and date the monthly statement-reconciliation.

• ✓A broker must reconcile total trust liability against reconciled bank balances monthly
• ✓The broker must review, sign, and date the monthly statement-reconciliation, including all specified minimum information

A probable cause panel determines whether probable cause exists that a licensee, registrant, permit holder, or subject of an investigation violated Chapter 475, Part I, F.S., or any FREC rule. This is a key step in the disciplinary process before formal charges (administrative complaint) are filed.

• ✓A probable cause panel determines if probable cause exists that a licensee, registrant, permit holder, or investigation subject violated Chapter 475 Part I, F.S., or Commission rules
• ✓A probable cause panel must consist of at least one present (current) member of the Commission
• ✓Per section 455.225(4), F.S., one of the panel members may be a former member of the Commission

Under section 475.42(1)(m), F.S., it is a violation of Chapter 475 for any broker or salesperson to enter into a listing/service agreement for the resale of a time-share period unless the agreement complies with all disclosure requirements in Rule 61J2-23.001. These requirements are in addition to all other Chapter 475 obligations.

• ✓Non-compliant time-share resale service agreements violate Chapter 475, F.S.
• ✓Applies to any broker or salesperson engaging in time-share resale services
• ✓Requirements are in addition to all other Chapter 475 obligations

A time-share resale listing agreement must contain, in conspicuous type immediately before the owner's signature space, the statement: 'THERE IS NO GUARANTEE THAT YOUR TIME-SHARE PERIOD CAN BE SOLD AT ANY PARTICULAR PRICE OR WITHIN ANY PARTICULAR PERIOD OF TIME.' Any written advertising material used to solicit a resale listing must also contain this statement in conspicuous type.

• ✓The 'no guarantee' statement must appear in conspicuous type immediately before the owner's signature
• ✓The same statement must appear in any written advertising soliciting resale listings
• ✓The statement must be reproduced verbatim

All time-share resale service agreements must be reduced to writing, and the owner must receive a fully executed copy on the day he signs it. If the agreement is initially entered into orally (by telephone or otherwise), the broker must make all required disclosures before accepting anything of value. A written agreement executed by the broker must be presented for signature within 10 days after the date the agreement was orally entered into.

• ✓Owner must receive a fully executed copy on the day of signing
• ✓For oral agreements, all required disclosures must be made before accepting anything of value
• ✓Written agreement must be presented for signature within 10 days of oral agreement

Under section 475.42(1)(m), F.S., it is a violation of Chapter 475 for any broker or salesperson to use any resale contract or purchase and sale agreement that does not comply with Rule 61J2-23.002. The contract must include: an explanation of the form of time-share ownership and a legally sufficient description of the period; the name and address of the managing entity; the required common-expense assessment disclosure; the section 721.06(1)(h), F.S., disclosure if applicable; a complete disclosure of purchase and closing terms (closing costs and title insurance obligations); and disclosure of any mandatory exchange program membership.

• ✓Non-compliant resale contracts violate Chapter 475, F.S.
• ✓Must include an explanation of the form of ownership and a legally sufficient description
• ✓Must disclose the name and address of the managing entity
• ✓Must disclose closing terms, closing cost/title insurance obligations, and any mandatory exchange program membership

FREC establishes disciplinary guidelines under Section 455.2273, F.S., giving licensees notice of the penalty range normally imposed for each violation count. The guidelines set an order of penalties from lowest to highest. Combinations of penalties are permitted by law under Section 475.25(1), F.S. Nothing prevents discipline via stipulation/settlement or the Probable Cause Panel issuing a letter of guidance.

• ✓Order of penalties lowest to highest: letter of concern, reprimand, fine, probation, suspension, and revocation or denial of application
• ✓Combinations of these penalties are permissible under Section 475.25(1), F.S.
• ✓The Probable Cause Panel may issue a letter of guidance instead of formal discipline
• ✓Guidelines provide the range normally imposed for each count in a formal or informal hearing

Violations of Section 475.25(1)(b), F.S. (fraud, misrepresentation, concealment, false promises, culpable negligence, breach of trust, or aiding such misconduct) carry among the most severe penalties. First violations start at a $2,500 fine and 30-day suspension; second and subsequent violations start at $5,000 and 6-month suspension, both ranging up to revocation.

• ✓First violation: $2,500 fine and 30-day suspension up to $5,000 fine and revocation
• ✓Second/subsequent: $5,000 fine and 6-month suspension up to $5,000 fine and revocation
• ✓Covers fraud, misrepresentation, concealment, false promises, false pretenses, trick/scheme/device
• ✓Also covers culpable negligence, breach of trust, and conspiring/aiding in misconduct

Failure to account/deliver escrowed property (475.25(1)(d)1.) or a broker's failure to immediately deposit escrow money (475.25(1)(k)) are serious disciplinable offenses. First violations typically range from a $1,000 fine and 30-day suspension up to revocation on subsequent offenses.

• ✓Failure to account or deliver escrowed property: first violation $1,000 fine and 30-day suspension to $2,500 fine and 90-day suspension
• ✓Broker's failure to immediately deposit escrow money: first violation $1,000 fine and 30-day suspension to $2,500 fine and revocation
• ✓Sales associate must place escrow money with the registered employer broker
• ✓Second/subsequent escrow violations range up to $5,000 fine and permanent revocation

Practicing real estate without a valid and current license (475.42(1)(a)) is a significant violation. Related unlicensed-activity offenses include a sales associate operating without a registered employer and a broker employing an unlicensed sales associate.

• ✓Practice without a valid/current license: first violation $1,000 to $2,500 fine and 90-day suspension to revocation
• ✓Sales associate practicing beyond scope (475.42(1)(b)): first violation $1,000 fine and 30-day suspension up
• ✓Broker employing an unlicensed sales associate (475.42(1)(c)): $1,000 fine and 30-day suspension up
• ✓Sharing a commission with an unlicensed person (475.25(1)(h)): first violation $1,000 fine and 30-day suspension to revocation

Under Section 455.224, F.S., FREC designates violations that pose no substantial threat to public health/safety/welfare (or where potential harm was removed) as eligible for disposition by citation with a set fine. Citations may be issued by the Division of Real Estate to licensees, permit holders, and registrants.

• ✓Citations apply only to violations with no substantial threat to public health, safety, and welfare
• ✓Citations are served by personal service or certified mail, restricted delivery, to the last known address
• ✓The subject has 30 days from when the citation becomes a final order to pay the fine
• ✓Fines are payable to 'DBPR - R.E. Citations' and sent to the Division of Real Estate in Orlando

A nonresident seeking Florida licensure under s. 475.180, F.S., must pass a written examination to demonstrate knowledge of Florida law, statutes, and administrative rules. The exam consists of 40 questions, each worth one point, and applicants must score 30 or higher to pass. This requirement applies to all nonresident applicants regardless of their home jurisdiction and is incorporated into each mutual recognition agreement.

• ✓The nonresident exam consists of 40 questions, each worth one point
• ✓A passing score is 30 points or higher
• ✓The exam is required of all nonresident applicants regardless of jurisdiction
• ✓The exam requirement becomes part of each written mutual recognition agreement under s. 475.180, F.S.

For purposes of s. 475.180(1), F.S., a 'resident' of Florida is defined by FREC rule. A person qualifies as a resident if they have resided continuously in Florida for 4 calendar months or more within the preceding one year, OR if they presently reside in Florida with intent to reside continuously for 4 months or more. The place of residence may be a recreational vehicle, hotel, rental unit, or any other temporary or permanent situs. Nonresidents may apply for licensure through mutual recognition because they have less opportunity to meet Florida's education, experience, and examination requirements.

• ✓A resident has resided continuously in Florida for 4 calendar months or more within the preceding year
• ✓Alternatively, a resident presently resides in Florida intending to reside continuously for 4 months or more
• ✓The type of dwelling (RV, hotel, rental unit, temporary or permanent) does not affect residency status
• ✓Nonresidents may apply for licensure under s. 475.180(1), F.S., through mutual recognition

A broker is a person who, for another and for compensation, performs real estate acts such as selling, buying, leasing, appraising, auctioning, or negotiating. The definition includes any person who is a general partner, officer, or director of a partnership or corporation that acts as a broker, and any person or entity who lists or sells timeshare periods on behalf of others. When 'appraise' appears in the broker definition, it excludes appraisal services that must be performed only by a state-licensed or state-certified appraiser under Part II.

• ✓A broker must act 'for another' AND 'for compensation' to fall under the definition
• ✓A general partner, officer, or director of a corporation/partnership that acts as a broker is also a broker
• ✓Timeshare listing/selling on behalf of others makes a person a broker, except as provided in ss. 475.011 and 721.20

A broker associate is a person qualified to be issued a broker license but who operates as a sales associate in the employ of another. A sales associate performs any act specified in the broker definition but does so under the direction, control, or management of another person. Both render professional services under s. 95.11(5)(b).

• ✓A broker associate holds a broker's qualifications but works under another licensee
• ✓A sales associate performs broker acts only under the direction, control, or management of another

A fiduciary is a broker in a relationship of trust and confidence with the seller or buyer as principal. A single agent represents, as a fiduciary, either the buyer or seller but not both in the same transaction. The 'principal' is the party with whom the licensee has entered into a single agent relationship.

• ✓A single agent owes the nine statutory duties of s. 475.278(3), including the fiduciary duties of loyalty, confidentiality, obedience and full disclosure
• ✓A single agent may represent the buyer OR seller as a fiduciary, but not both in the same transaction
• ✓The 'principal' is the party with whom the licensee has a single agent relationship

A transaction broker provides limited representation to a buyer, seller, or both, but does not represent either as a fiduciary or single agent. The parties give up their rights to the undivided loyalty of the licensee. This allows the licensee to facilitate the transaction by assisting both parties without working to the detriment of either.

• ✓A transaction broker provides limited (not fiduciary) representation
• ✓In a transaction broker relationship, a buyer or seller is NOT responsible for the acts of the licensee
• ✓Parties give up their right to undivided loyalty

Section 475.011 lists persons and entities to whom Part I does not apply, including attorneys in fact (for executing contracts/conveyances only), attorneys at law within their duties, CPAs within their duties, court-appointed personal representatives/receivers/trustees, and owners selling/leasing their own property.

• ✓Attorneys at law and CPAs are exempt only within the scope of their professional duties
• ✓Attorneys in fact are exempt only for the execution of contracts or conveyances
• ✓Court-appointed representatives (personal reps, receivers, trustees, magistrates) are exempt

An individual, corporation, partnership, trust, joint venture, or other entity that sells, exchanges, or leases its OWN real property is exempt. However, the exemption is lost if an agent/employee/independent contractor paid a commission strictly on a transactional basis is employed to make sales/exchanges/leases to customers in the ordinary course of the owner's business.

• ✓Owners dealing in their own real property are exempt from licensure
• ✓The exemption is lost if a person is paid commission on a transactional basis to deal with the public in the ordinary course of business

The FREC is created within the department and consists of seven members appointed by the Governor, subject to Senate confirmation. Four must be licensed brokers with an active license for the 5 preceding years; one must be a broker or sales associate with an active license for the 2 preceding years; and two must be consumer members who have never been brokers or sales associates. At least one member must be 60 years of age or older.

• ✓FREC has 7 members appointed by the Governor and confirmed by the Senate
• ✓Four members must be brokers (5-year active license); one broker/sales associate (2-year); two consumer members
• ✓At least one member must be 60 or older; members serve 4-year terms

Each partnership, LLP, LLC, or corporation acting as a broker must register with FREC and renew licenses/registrations of its members, officers, and directors each license period. For a limited partnership, only general partners must be licensed brokers or registered brokerage corporations. If at least one active broker member's license is not in force, the entity's registration is automatically canceled for that period. FREC must adopt rules allowing temporary emergency registration of a broker if a sole broker dies or is unexpectedly unable to remain a broker.

• ✓Partnerships, LLPs, LLCs, and corporations acting as brokers must register with FREC
• ✓Only general partners of a limited partnership must be licensed brokers
• ✓If no active broker member's license is in force, the entity registration is automatically canceled
• ✓FREC must allow temporary emergency broker registration when a sole broker dies or becomes unable to serve

An applicant who is a natural person must be at least 18 years old; hold a high school diploma or equivalent; and be honest, truthful, trustworthy, of good character, and have a good reputation for fair dealing. Applicants for active broker or sales associate licenses must be competent to conduct real estate transactions safely for investors. Prior denial, disbarment, or revocation/suspension of a license in any state for conduct that would warrant discipline under Chapter 475 may make an applicant unqualified unless, due to lapse of time and subsequent good conduct, the public will not likely be endangered. An application may be disapproved if the applicant acted as a broker/sales associate in violation of the chapter within 1 year before filing.

• ✓Applicant must be at least 18 years old and hold a high school diploma or equivalent
• ✓Applicant must be honest, truthful, trustworthy, of good character, with a good reputation for fair dealing
• ✓Prior discipline in any jurisdiction can bar licensure unless time and good conduct show no danger to the public
• ✓Application may be disapproved for acting as a broker/sales associate in violation of the chapter within the prior year

FREC may require completion of educational courses at accredited colleges/universities/community colleges, career centers, or registered real estate schools as a condition of licensure. The initial (prelicensure) course may not exceed 63 classroom hours (50 minutes each, inclusive of exam) for a sales associate and 72 classroom hours for a broker. Satisfactory course completion is determined by passing the school's end-of-course exam. A notice of satisfactory completion may not be issued if the student has absences exceeding 8 classroom hours. Distance learning courses may be approved as an option, but require passing a timed distance-learning exam (not required to be monitored or at a centralized location). Hardship correspondence access must be made available.

• ✓Sales associate prelicensure course may not exceed 63 classroom hours (50-min hours, inclusive of exam)
• ✓Broker prelicensure course may not exceed 72 classroom hours (50-min hours, inclusive of exam)
• ✓No completion notice if absences exceed 8 classroom hours
• ✓Distance learning requires passing a timed course exam, not monitored or centralized

A person may not be licensed as a broker unless they have held one of the following during the preceding 5 years: (1) an active real estate sales associate license for at least 24 months in the office of one or more licensed brokers (any state/jurisdiction); (2) a current, valid sales associate license for at least 24 months employed by a government agency for salary performing licensee duties; or (3) a current, valid broker license for at least 24 months in another state/jurisdiction. A Florida sales associate licensed during the preceding 5 years must also complete required sales associate postlicensure education before becoming a broker.

• ✓Broker applicants need at least 24 months of active sales associate experience during the preceding 5 years
• ✓Government-employed sales associates and out-of-state brokers (24 months) may also qualify
• ✓A Florida sales associate must complete postlicensure education before broker licensure

FREC may prescribe postlicensure education for maintaining a valid sales associate license, not to exceed 45 classroom hours (50 min each, inclusive of exam), before the first renewal following initial licensure. It consists of FREC-approved courses covering subjects such as property management, appraisal, finance, marketing, and business planning. No completion notice if absences exceed 10 percent of required hours or if a timed distance-learning exam is not passed. CRITICAL: A sales associate who does NOT complete postlicensure education before the first renewal has their license rendered null and void, and must requalify by retaking the prelicensure course and passing the state exam.

• ✓Sales associate postlicensure education may not exceed 45 classroom hours before the first renewal
• ✓Failure to complete postlicensure education before first renewal renders the license null and void
• ✓A null-and-void licensee must retake the prelicensure course and pass the state exam to requalify
• ✓No completion notice if absences exceed 10% of required hours

FREC may prescribe postlicensure education to maintain a valid broker license, not to exceed 60 classroom hours (50 min each, inclusive of exam), before the first renewal following initial licensure, covering advanced subjects like appraisal, property management, brokerage, finance, and business planning. No completion notice if absences exceed 10 percent of hours or if the timed distance-learning exam is not passed. A broker who does not complete postlicensure education before first renewal has the license rendered null and void. Such a licensee may instead be issued a sales associate license by proving completion of the 14-hour continuing education course within 6 months following expiration; to operate as a broker again, they must retake the broker prelicensure course and pass the state exam.

• ✓Broker postlicensure education may not exceed 60 classroom hours before the first renewal
• ✓Failure to complete renders the broker license null and void
• ✓A null broker may obtain a sales associate license by completing the 14-hour CE course within 6 months of expiration
• ✓To re-become a broker, the person must retake the broker prelicensure course and pass the state exam

The department licenses any applicant whom FREC certifies as qualified under ss. 475.17, 475.175, and 475.180. FREC may refuse to certify any applicant who violated s. 475.42 or is subject to discipline under s. 475.25. An application expires 2 years after the date received if the applicant does not pass the exam. If the applicant does not pass the licensing exam within 2 years of successful course completion, the course completion becomes invalid for licensure. The department may not issue a license to an applicant under investigation in another jurisdiction for acts violating Part I or Chapter 455 until the investigation and disciplinary proceedings conclude.

• ✓FREC certifies applicants who meet the requirements of ss. 475.17, 475.175, and 475.180
• ✓An application expires 2 years after the date received if the exam is not passed
• ✓Course completion becomes invalid if the exam is not passed within 2 years of completion
• ✓No license issued while an applicant is under investigation in another jurisdiction

The department renews a license upon receipt of the renewal application and fee. An active broker, broker associate, or sales associate must show satisfactory completion of at least 14 classroom hours (50 min each) of continuing education during each biennium of a license period, as prescribed by FREC. FREC may accept substitute education courses on an hour-for-hour basis, including approved distance learning, but may not require a monitored, centralized written exam for correspondence/distance courses. FREC may accept attendance at one legal agenda session as a substitute for 3 classroom hours, one time per renewal cycle (with 7 days advance notice; no credit if attending as a party to a disciplinary action). Renewal procedures occur at least every 4 years, and the department mails a renewal notice 60 days before period end.

• ✓Active licensees must complete 14 classroom hours of CE each biennium
• ✓FREC may substitute one legal agenda session for 3 classroom hours, once per renewal cycle (7 days notice required)
• ✓No CE credit for attending a legal agenda session as a party to a disciplinary action
• ✓The department mails renewal/reversion notice 60 days before the license period ends

Any license not renewed at the end of the license period automatically reverts to involuntarily inactive status. Such a license may only be renewed later if the licensee meets the qualifications in s. 475.183. Sixty days before the period ends, the department mails a notice of renewal and possible reversion to the licensee's last known address.

• ✓An unrenewed license automatically reverts to involuntarily inactive status
• ✓A reverted license can only be renewed by meeting s. 475.183 qualifications
• ✓The department must mail a reversion notice 60 days before the period ends

A voluntarily inactive license may be renewed under s. 475.182; FREC may require continuing education not to exceed 12 classroom hours for each year inactive. A licensee may reactivate a license involuntarily inactive for 12 months or less by completing at least 14 hours of a FREC-prescribed CE course; if involuntarily inactive for more than 12 but fewer than 24 months, 28 hours are required. Any license involuntarily inactive for more than 2 years automatically expires and becomes null and void; the department gives notice 90 days before expiration. FREC may set a late renewal fee not to exceed $100. FREC may reinstate a void license due to illness or economic hardship if the individual applies within 6 months after the license becomes void.

• ✓Voluntarily inactive renewal CE may not exceed 12 classroom hours per year inactive
• ✓Reactivation requires 14 hours (≤12 months inactive) or 28 hours (12–24 months inactive) of CE
• ✓A license involuntarily inactive more than 2 years automatically expires and becomes null and void
• ✓Void licenses may be reinstated for illness/economic hardship if applied for within 6 months

A license ceases to be in force when a broker or real estate school changes business address, or when a sales associate or instructor changes employer. The licensee must notify the commission no later than 10 days after the change on a form provided by the commission. When a broker/school changes address, the brokerage/school must file the notice along with names of associates/instructors no longer employed; this filing also satisfies the change-of-address requirement for remaining associates/instructors.

• ✓License ceases to be in force upon change of business address or change of employer
• ✓Notification to the commission required no later than 10 days after the change
• ✓Brokerage/school filing must include names of associates or instructors no longer employed
• ✓Brokerage filing satisfies change-of-address requirements for remaining employees

The commission may deny an application, place a licensee on probation, suspend a license for up to 10 years, revoke a license, impose an administrative fine up to $5,000 per count or separate offense, and issue a reprimand — any or all — upon finding violations by a licensee, registrant, permittee, or applicant.

• ✓Suspension may not exceed 10 years
• ✓Administrative fine may not exceed $5,000 per count or separate offense
• ✓Available penalties: denial, probation, suspension, revocation, fine, reprimand — singly or combined

Section 475.25(1) lists numerous disciplinary grounds including: violating s.455.227(1) or s.475.42; fraud, misrepresentation, concealment, false promises/pretenses, dishonest dealing, culpable negligence, or breach of trust; false or misleading advertising; failure to account or deliver; violating any provision of the chapter or lawful rules; conviction of a crime relating to real estate or involving moral turpitude/dishonesty; discipline in another jurisdiction; sharing commissions with unlicensed persons; incapacity from drunkenness/drugs; obtaining a license by fraud; and being found guilty a second time of misconduct.

• ✓Fraud, misrepresentation, concealment, dishonest dealing, culpable negligence, and breach of trust are disciplinable (475.25(1)(b))
• ✓It is immaterial that the victim suffered no damage or that loss was later settled
• ✓Advertising that is fraudulent, false, deceptive, or misleading is a violation (475.25(1)(c))
• ✓Conviction/plea to a crime relating to real estate or involving moral turpitude/dishonesty is a ground (475.25(1)(f))
• ✓Sharing a commission with an unlicensed person is prohibited (475.25(1)(h))
• ✓Obtaining a license by fraud, misrepresentation, or concealment is a ground (475.25(1)(m))

When a broker holding escrowed funds has good-faith doubt about who is entitled to them, or receives conflicting demands, the broker must promptly notify FREC and promptly employ one of four escape procedures: (a) request an Escrow Disbursement Order (EDO); (b) with consent of all parties, submit to arbitration; (c) seek court adjudication by interpleader or otherwise; or (d) with written consent of all parties, submit to mediation. If a broker promptly employs one procedure and abides by the result, no administrative complaint may be filed for failure to account/deliver/maintain the escrowed property.

• ✓Broker must promptly notify FREC of conflicting demands or good-faith doubt over escrowed funds
• ✓Four settlement procedures: EDO request, arbitration, litigation (interpleader), or mediation
• ✓Mediation requires written consent of all parties and must be completed within 90 days of the last demand
• ✓Promptly using a procedure and abiding by its result bars an administrative complaint for failure to account

Under 475.25(1)(k), a broker must immediately place entrusted funds into escrow with a title company or Florida financial institution, or into a trust/escrow account. A sales associate must immediately deliver entrusted funds to the registered employer. A broker may keep up to $5,000 of personal/brokerage funds in a property management escrow account and up to $1,000 in a sales escrow account. Brokers get reasonable time to correct escrow errors if there is no shortage and no significant threat of harm to the public.

• ✓Broker must immediately place entrusted funds into escrow upon receipt
• ✓Sales associate must immediately deliver entrusted funds to the registered employer
• ✓Up to $5,000 personal/brokerage funds allowed in a property management escrow account
• ✓Up to $1,000 personal/brokerage funds allowed in a sales escrow account
• ✓Escrow funds must be held in a Florida-located, doing-business financial institution or title company

Under s. 475.255, without considering the related facts and circumstances, the mere payment or promise to pay compensation to a licensee does not by itself determine whether an agency or transactional brokerage relationship exists between the licensee and a seller, landlord, buyer, or tenant.

• ✓Payment or promise of compensation alone does not establish an agency or transaction brokerage relationship
• ✓The nature of the relationship is determined by facts and circumstances, not by who pays

Section 475.272 states the legislative intent behind the Brokerage Relationship Disclosure Act. Disclosed dual agency was expressly revoked in Florida. The Act establishes disclosure requirements and defines authorized brokerage relationships. Single agents may represent only one party (buyer OR seller) in a transaction, while transaction brokers provide a limited, nonfiduciary form of representation to a buyer, seller, or both.

• ✓Disclosed dual agency is expressly revoked in Florida
• ✓A single agent may represent either the buyer or the seller, but NOT both, in the same transaction
• ✓Transaction brokers provide a limited, nonfiduciary form of representation to a buyer, seller, or both

Under s. 475.2755, in a nonresidential transaction where BOTH buyer and seller have assets of $1 million or more, the broker may — at the customers' request — designate different sales associates to act as single agents for different customers in the same transaction. Both parties must sign disclosures confirming they meet the $1 million asset threshold and requesting the designated sales associate form. Each designated sales associate owes single-agent duties. 'Buyer' includes a lessee/transferee and 'seller' includes a lessor/transferor.

• ✓Available only in nonresidential transactions where both buyer and seller have assets of $1 million or more
• ✓Broker may designate the associates only at the customers' request
• ✓Both buyer and seller must sign disclosures confirming they meet the $1 million asset threshold
• ✓Each designated sales associate owes the duties of a single agent

Under s. 475.278(1), a licensee may act as either a transaction broker or a single agent, but may NOT operate as a disclosed or nondisclosed dual agent (dual agent = a broker who represents both buyer and seller as a fiduciary). A licensee may transition from one relationship to another with written consent. It is presumed that all licensees operate as transaction brokers unless a single agent or no brokerage relationship is established in writing with the customer. A customer is not required to enter any brokerage relationship.

• ✓A licensee may not operate as a disclosed or nondisclosed dual agent
• ✓All licensees are presumed to be operating as transaction brokers unless a single agent or no brokerage relationship is established in writing
• ✓Transitioning between relationships requires the customer's prior written consent
• ✓A customer cannot be required to enter into a brokerage relationship

Section 475.278(2) lists the seven duties of a transaction broker providing limited representation: (a) dealing honestly and fairly; (b) accounting for all funds; (c) using skill, care, and diligence; (d) disclosing all known facts materially affecting residential property value not readily observable to the buyer; (e) presenting all offers/counteroffers timely unless directed otherwise in writing; (f) limited confidentiality unless waived in writing; and (g) any additional duties mutually agreed to. Limited confidentiality prevents disclosing that a seller will accept less than asking, that a buyer will pay more than offered, the motivation of any party, or that a party will accept other financing terms.

• ✓Transaction broker duties: honesty/fairness, accounting for funds, skill/care/diligence, disclosure of material facts, timely presentation of offers, limited confidentiality, and additional agreed duties
• ✓Limited confidentiality prevents disclosing a seller will accept less than asking or a buyer will pay more than offered, party motivation, and financing flexibility
• ✓A transaction broker does NOT represent either party in a fiduciary capacity

Section 475.278(3)(a) lists the nine duties owed by a single agent: 1) dealing honestly and fairly; 2) loyalty; 3) confidentiality; 4) obedience; 5) full disclosure; 6) accounting for all funds; 7) skill, care, and diligence; 8) presenting all offers/counteroffers timely unless directed otherwise in writing; and 9) disclosing all known facts materially affecting residential property value that are not readily observable. These are the full fiduciary duties.

• ✓The nine single-agent duties include loyalty, confidentiality, obedience, and full disclosure (fiduciary duties not owed by a transaction broker)
• ✓A single agent owes full fiduciary representation to one party only
• ✓Additional single-agent duties: honesty/fairness, accounting for funds, skill/care/diligence, timely offers, material fact disclosure

Under s. 475.278(3)(b), single agent duties must be fully described and disclosed in writing — as a separate document or incorporated into a listing/representation agreement — before or at the time of entering the agreement or before showing the property, whichever occurs first. When incorporated into other documents, the notice must be the same size type or larger and conspicuous; the first sentence of the disclosure must be printed in uppercase and bold type.

• ✓Single agent disclosure must be in writing before or at the time of entering the agreement or before showing property, whichever comes first
• ✓The first sentence of the notice must be printed in uppercase and bold type
• ✓When incorporated into other documents, the notice must be the same size type or larger and conspicuous

Under s. 475.278(3)(b)2 and (c)2, a single agent relationship may be changed to a transaction broker relationship at any time, but the agent must first obtain the principal's prior WRITTEN consent using the required 'Consent to Transition to Transaction Broker' disclosure. Transitioning to a transaction broker means the principal gives up the undivided loyalty of the licensee. The consent must be initialed or signed.

• ✓Transition from single agent to transaction broker requires the principal's prior written consent
• ✓The required Consent to Transition disclosure must be used and must be initialed or signed
• ✓Transition means the party gives up the right to the licensee's undivided loyalty

Section 475.278(4) provides that a licensee with no brokerage relationship owes only three duties: 1) dealing honestly and fairly; 2) disclosing all known facts materially affecting residential property value not readily observable to the buyer; and 3) accounting for all funds entrusted to the licensee. The No Brokerage Relationship Notice must be given in writing BEFORE the showing of property, with the first sentence in uppercase bold type.

• ✓No brokerage relationship duties are limited to three: honest/fair dealing, material fact disclosure, and accounting for funds
• ✓The No Brokerage Relationship Notice must be given in writing before the showing of property
• ✓The first sentence of the notice must be printed in uppercase bold type

Section 475.41 provides that no contract for a commission or compensation for any real estate act or service is valid unless the broker or sales associate held a valid current license at the time the act or service was performed. This means unlicensed activity cannot be the basis for collecting compensation.

• ✓A commission contract is invalid unless the licensee held a valid, current license when the service was performed
• ✓Unlicensed persons cannot enforce a contract for real estate commission or compensation

Section 475.42(1)(a) provides that a person may not operate as a broker or sales associate without holding a valid and current active license. A violation is a felony of the third degree, punishable under s. 775.082 or s. 775.083 (or, for a corporation, under s. 775.083).

• ✓Operating as a broker or sales associate without a valid, current, active license is prohibited
• ✓Unlicensed practice is a felony of the third degree

A sales associate may only work for and under a single registered employer. They may not operate as a broker or work for anyone not registered as their employer. Brokers may not employ anyone as a sales associate who does not hold a valid, current sales associate license. A licensed active broker may obtain a sales associate license upon request and surrender of the broker's license without an additional fee.

• ✓A sales associate may not operate as a broker or as a sales associate for anyone not registered as their employer
• ✓A broker may not employ or continue to employ any person as a sales associate who does not hold a valid, current sales associate license
• ✓An active broker may be issued a sales associate license upon request and surrender of the broker's license with no additional fee

A sales associate may not collect any money in connection with a real estate brokerage transaction—commission, deposit, payment, rental, or otherwise—except in the name of the employer and with the employer's express consent. A sales associate may only sue for a commission against the person registered as their employer at the time the service was performed.

• ✓A sales associate may only collect money in the name of the employer and with the employer's express consent
• ✓A sales associate may only bring an action for commission against the person registered as their employer at the time the service was rendered

• A. The broker is required to disclose all compensation received from any source, including yield spread premiums, to the borrower in writing. ✓ Answer
• B. Yield spread premiums paid by lenders to brokers are exempt from Florida disclosure requirements because they are paid by the lender, not the borrower.
• C. Florida law only requires disclosure of fees paid directly by the borrower; lender-paid compensation to the broker need not be disclosed.
• D. A mortgage broker may accept undisclosed lender compensation provided it does not exceed two percent of the loan amount.

• A. Buyer A's inspection period expires without cancellation
• B. The seller delivers written notice to Buyer B that the primary contract has been terminated ✓ Answer
• C. Buyer B delivers written notice to the seller electing to move to primary status
• D. The original closing date stated in Buyer A's contract passes without closing

• A. The buyer, because personal property is sold 'as is' unless the contract specifically warrants title to personal property
• B. The seller, because the FAR/BAR contract requires the seller to convey personal property included in the sale free and clear of all liens and encumbrances ✓ Answer
• C. Neither party; the lender must release the lien automatically at closing under Florida's UCC article 9 procedures
• D. The title company, because its title insurance policy extends to personal property included in a real estate contract

• A. No, because the cancellation is only effective when actually received and read by the seller or seller's agent
• B. Yes, because the FAR/BAR contract provides that notice delivered electronically is effective upon transmission to the correct email address, regardless of when it is read ✓ Answer
• C. No, because cancellation during the inspection period must be delivered by certified mail or hand delivery only
• D. Yes, but only if the buyer's agent can prove the email was not intercepted by a spam filter before midnight

• A. Yes, Florida courts consistently enforce contractual limitations of remedy in real estate contracts, and the buyer is bound to accept deposit return as the sole remedy
• B. No, Florida Statute 475 prohibits licensees from including remedy limitation clauses in real estate contracts
• C. It may be enforceable, but Florida courts scrutinize such clauses and may find them unconscionable or against public policy if they effectively deprive the buyer of meaningful relief, particularly where the seller acted in bad faith ✓ Answer
• D. Yes, but only if the clause is conspicuously highlighted or initialed separately by both parties under Florida's Statute of Frauds

• A. The allocation is invalid because Florida law requires the buyer to pay all documentary stamp taxes in Miami-Dade County
• B. The parties may contractually allocate closing costs differently from the statutory default, but the allocation only binds the parties inter se and does not affect the state's ability to collect the tax from either party ✓ Answer
• C. Miami-Dade County uses a surtax on deeds instead of documentary stamps, so the standard FAR/BAR allocation does not apply
• D. Documentary stamp taxes on deeds in Florida are always paid by the buyer regardless of any contract provision