Fla. Admin. Code Ann. R. 18-1.002 - Definitions

When used in this chapter, the following shall have the indicated meaning unless the context clearly indicates otherwise:

(1) "Acquiring agency" means a state agency initiating acquisition of land or for whose benefit land is being acquired, title to which will vest in the Board. The term "acquiring agency" does not include the Board or the Division acting on behalf of the Board.

(2) "Appraisal map" means a map of the project area with individual ownership and project boundaries identified. This map shall show acreage and other pertinent information needed for appraisal. The map shall be prepared by a surveyor and mapper currently authorized to practice surveying in the State of Florida and shall be approved by the Division for compliance with applicable survey standards.

(3) "Appraisal services" means valuation work in the form of an appraisal or appraisal review.

(4) "Approved appraisal" means an appraisal service that has been approved by the Chief Appraiser, Bureau of Appraisal, Division of State Lands, or designee as in compliance with the Supplemental Standards, this chapter, and the specific assignment requirements.

(5) "Board" means the Governor and Cabinet sitting as the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida.

(6) "Boundary map" means a map of the project area with the project boundaries identified.

(7) "Certified survey" means a boundary survey, as further defined in Rule 18-1.005, F.A.C., which is certified, signed and sealed by a professional surveyor and mapper authorized to practice surveying in the State of Florida, and approved by the Division's Bureau of Survey and Mapping as being in compliance with the minimum technical standards for land surveying in Florida. The survey shall accurately portray the parcel's boundaries, improvements and encumbrances. The survey must have been certified within 90 days of the closing on the property unless this requirement is waived by the title insurer for the purpose of deleting the standard exceptions for survey matters, easements, or claims of easements not shown by the public records from the owner's title policy.

(8) "Chief Appraiser" means the Chief, Bureau of Appraisal, Division of State Lands, Department of Environmental Protection.

(9) "Conservation lands" shall be defined as provided in Rule 18-2.017, F.A.C.

(10) "Cooperating agency" means a local government, water management district, or a nonprofit organization as defined in Section 253.025(6)(d) or 259.041(7)(e), F.S., that has entered into an agreement with the Division to assist in the acquisition of specific property by the Board.

(11) "Council" means the Acquisition and Restoration Council formed by Section 259.035, F.S.

(12) "Director" means the Director, Division of State Lands, Department of Environmental Protection.

(13) "Division" means the Division of State Lands, Department of Environmental Protection.

(14) "Evidence of marketable title" means assurance of the marketability of the land being acquired, in the form of a marketability title commitment and policy. The coverage, form and exceptions of the title insurance must be approved by the Division in order to assure that title is marketable and compatible with the purposes of the acquisition. The term "Title Policy" and "Title Commitment" are included within this definition.

(15) "Land" or "Property" means the interest in real property to be acquired, together with all appurtenances.

(16) "Landowner" or "Owner" or "Seller" means the owner of the land or his authorized agent.

(17) "Market value" means the most probable price for which the appraised property will sell, as further defined in the Supplemental Standards.

(18) "Option agreement" means a purchase instrument that is subject to Board approval and to exercise of an option or options.

(19) "Purchase agreement" means a contract to purchase property which becomes binding on both parties at the time of execution, but subject to Board approval.

(20) "Purchase instrument" means one of the various types of contracts to purchase property, including purchase agreements, option agreements, exchange agreements and other forms of such agreements.

(21) "Secretary" means the Secretary of the Department of Environmental Protection.

(22) "State Certified Appraiser" means a real estate appraiser who has been certified by the State under the provisions of Chapter 475, F.S.

(23) "Supplemental Standards" means the Supplemental Appraisal Standards for Board of Trustees, March 2, 2016, hereby adopted by reference and made available on the internet at https://www.flrules.org/Gateway/reference.asp?No=Ref-06292 or http://www.dep.state.fl.us/lands/appraisal.htm or by sending a request to: Department of Environmental Protection, Bureau of Appraisal, 3900 Commonwealth Boulevard, MS #110, Tallahassee, Florida 32399-3000 or by phone at (850)245-2658 or by fax at (850)245-2668. The Supplemental Standards contain appraisal requirements that establish public policy and add procedures and practices, including those outlined in Chapters 253 and 259, F.S., that are to be used in addition to the appraisal procedures and practices of the appraisal profession, as regulated by Part II of Chapter 475, F.S., for the development and reporting of all appraisal services, including those outlined in Chapters 253 and 259, F.S., adopted by the Board of Trustees of the Internal Improvement Trust Fund.

(24) "Title Commitment" means written agreement binding a title insurance company to provide a policy insuring marketability of title for a specified time in the name of the Board in the amount of the purchase price, or other appropriate value, containing such coverage and exceptions, and in a form, approved by the Division.

Notes

Fla. Admin. Code Ann. R. 18-1.002

Rulemaking Authority 253.03, 253.025, 259.041 FS. Law Implemented 253.025, 259.041 FS.

New 6-16-86, Amended 4-6-89, 1-29-90, 10-30-91, 4-14-08, 6-15-10, Amended by Florida Register Volume 42, Number 031, February 16, 2016 effective 3/2/2016.

New 6-16-86, Amended 4-6-89, 1-29-90, 10-30-91, 4-14-08, 6-15-10, 3-2-16.