On May 8, 2023, Governor Ron DeSantis signed into law Florida Senate Bill 264, which prohibits the acquisition of certain types of Florida real estate by persons from so-called “Foreign Countries of Concern” (China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria). The types of restricted property include agricultural land,…
Residential and commercial property building permit fees relating to storm damage repairs will be waived by the City of Sarasota through January 1, 2023. This is aimed at helping City of Sarasota residents’ recovery efforts in the aftermath of Hurricane Ian. You will receive a refund if you filed a…
Although many real estate professionals are familiar with the withholding requirements under the Foreign Investment in Real Property Tax Act (FIRPTA) when a non-resident alien (“NRA”) or foreign corporation (“FC”) sells U.S. real property, a less-often discussed topic is the similar withholding required when a NRA or FC owns and…
On September 19, 2022, the Sarasota City Commission voted to approve Ordinance No. 22-5439 on first reading. The ordinance is one of several that would make changes to the City’s Comprehensive Plan. What does the ordinance do? Modifies the Urban Edge, Downtown Core, and Downtown Bayfront districts to allow for…
The collapse of the Champlain Towers South condominium in Surfside was shocking. Not only for the lives lost (and the way they died), but also for the fact the tragedy might have been avoided had their condominium association done something about the deferred structural maintenance that had accumulated over the…