The registration deadline for Florida Senate Bill 264 (SB 264), which places significant restrictions and registration requirements on the ownership and interests of real property in the state of Florida by individuals or entities from certain foreign countries is approaching. The bill is aimed at persons or entities from "foreign countries of concern," which include the People’s Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, and Venezuela.
The deadline to register real property held by individuals or entities purchased before July 1st, 2023 in Florida that fall under SB 264 is December 31st, 2023.
How do I Know if My Property is Affected
The State of Florida in the meanwhile has created an online portal named SecureFlorida (see link and note below) that can help individuals and their agents to identify whether or not a given parcel of land / real property is subject to the new regulations under SB 264. An address search will provide further details regarding the registration requirements. The tool is useful for:
- Property owners in Florida that are subject to SB 264 and want to verify if their property is subject to the registration requirements.
- Prospective buyers of real estate in Florida who are subject to SB 264 and want to verify if a property they intend to purchase is affected by this law.
How Do I Register with the State
Individuals and entities who own property that they are required to register under Florida Senate Bill 264 have until December 31st, 2023 to do so. The registration can now be done online via the SecureFlorida Portal. The Property Search tool can assist in determining if a property meets the requirements to register per 692.203, Florida Statutes.
Link to the SecureFlorida Portal
Important Note from Lester Alfonso the Broker at McGregor Palms Realty:
Florida Senate Bill 264 (SB 264), which was signed into law by Governor Ron DeSantis on May 8, 2023, and became effective on July 1, 2023, has seen its fair share of contention. This is particularly true in regards to the identification of exactly which parcels of land / real estate properties fall under its power due to the law’s complex language. It is important to note that the SecureFlorida Portal has the following verbiage on its website regarding the reliability of the search function: “While FloridaCommerce makes every effort to produce the most current and accurate information possible, it makes no warranties, expressed or implied, as to the accuracy, completeness, suitability, or timeliness of the information contained in the property search tool. FloridaCommerce assumes no responsibility for any private use, misuse, or interpretation of the information provided in the property search tool, or any loss resulting therefrom. Any reliance on the property search tool is at the user’s own risk.”
Even the State of Florida is not able to provide a reliable map showing which properties are subject to the registration requirements under SB 264. The state’s search tool is however the only option most property owners and prospective buyers of Florida real estate have in order to verify a land parcel’s status. It is advised that those who may be affected by SB 264 should consult with a legal council if they have any questions or concerns regarding their particular situation.
