Legislative changes to the Foreign Investment in Real Property Tax Act (“FIRPTA”) go into effect on February 17, 2016. As a result, several contract forms are being revised. The redline versions are attached and have been posted on floridarealtors.org under hot topics. The new versions will be posted in Form Simplicity on February 15.
The affected forms are:
- Florida Realtors/Florida Bar Residential Contract For Sale And Purchase (just Standard V in Paragraph 18 and revision date and form number)
- AS IS Florida Realtors/Florida Bar Residential Contract For Sale And Purchase (just Standard V in Paragraph 18 and revision date and form number) and
- Florida Realtors Contract for Residential Sale and Purchase (CRSP-14a) FIRPTA Addendum
