On March 15, 2024, the Florida Department of Agriculture and Consumer Services (FDACS) filed rule chapter 5J-27, Florida Administrative Code for adoption. The rules implement parts of Chapter 2023-33, Laws of Florida, a law passed during the 2023 legislative session aimed to restrict foreign ownership of land in Florida. FDACS’ new rules implement provisions of the law related to foreign ownership of agricultural land in Florida. They clarify terms used in the statute and the rule, outline the registration requirements that foreign principals must comply with, summarize the enforcement action that FDACS will take for violating the rules, and provide a safe harbor provision to closing agents and sellers of agricultural land when certain conditions are met. Unless challenged, the rule will take effect on April 4, 2024.
Whether you are prospective buyer, seller, or closing agent, LLW has an experienced team of attorneys in their Agricultural and Land Use and Real Estate practice groups who can help you understand and comply with the new law. For more information, contact Robert Angus Williams at rwilliams@llw-law.com.
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