(1) The Department
will provide a means, accessible through the Department's website at
www.floridajobs.org, for individuals
to determine the proximity of real property to a military installation or a
critical infrastructure facility in Florida.
(2) Any interest in real property registered
by a PRC principal in accordance with Rule
73C-60.003, F.A.C., is not
required to be registered pursuant to this rule.
(3) Registration for Real Property Owned or
Acquired Prior to July 1, 2023
A PRC principal who owns or acquires an interest, other than
a de minimis indirect interest, in real property in Florida prior to July 1,
2023, must register with the Department within 30 days of the effective date of
this rule. A PRC principal who fails to register within 30 days of the
effective date of this rule will have fines assessed in accordance with Rule
73C-61.005, F.A.C.
(4)
Registration for Real Property Purchased on or After July 1, 2023, as
Authorized Under Section
692.204(2),
F.S.
(a) A PRC principal who is a natural
person who purchases, other than a de minimis indirect interest, one
residential real property that is 2 acres or less and is not on or within 5
miles of any military installation in the state of Florida on or after July 1,
2023, must register with the Department within 30 days after the property is
owned or acquired.
(b) If the PRC
principal who is a natural person purchases the real property between July 1,
2023, and the effective date of this rule, the PRC principal will have 30 days
from the effective date of this rule to register with the Department to be
deemed timely registered.
(5) Registration for Real Property Acquired
on or After July 1, 2023, as Authorized Under Section
692.204(5),
F.S.
(a) A PRC principal who acquires real
property or any interest therein, other than a de minimis indirect interest, on
or after July 1, 2023, by devise or descent, through the enforcement of
security interests, or through the collection of debts, must register with the
Department within 30 days after the property is owned or acquired by the person
or entity.
(b) If the PRC principal
acquired the real property or any interest therein between July 1, 2023, and
the effective date of this rule, the PRC principal will have 30 days from the
effective date of this rule to register with the Department to be deemed timely
registered.
(c) The PRC principal
must submit an updated registration Form COM-73C-61, Foreign Principal Real
Property Registration Form, effective 02/2025, which is incorporated by
reference and available at
http://flrules.org/Gateway/reference.asp?No=Ref-17320
or, by using the online registration system on the Department's website at
http://www.floridajobs.org,
within three years of acquiring the real property demonstrating the sale,
transfer, or other divestment of such real property. For purposes of Form
COM-73C-61, the phrase "foreign principal" means the same as the term "PRC
principal".
(d) A PRC principal who
registers more than 30 days after the real property is owned or acquired shall
be deemed late and will have fines assessed in accordance with Rule
73C-61.005,
F.A.C.
(6) Registration
for Real Estate Contracts
A PRC principal who obtains equitable title by executing a
real estate contract with the obligation of closing to obtain legal title
within 90 days shall register the real property that is the subject of the
contract within 30 days of acquiring legal title. A PRC principal who obtains
equitable title by executing a real estate contract without the obligation of
closing to obtain legal title within 90 days shall register the real property
that is the subject of the contract within 120 days of acquiring equitable
title.
(7) Registration
Method
Each PRC principal who is required to register their real
property with the Department must do so either by utilizing and submitting Form
COM-73C-61, Foreign Principal Real Property Registration Form, effective
02/2025, which is incorporated by reference and available on the internet at:
http://flrules.org/Gateway/reference.asp?No=Ref-17320
or by using the online registration system on the Department's website at
http://www.floridajobs.org.
(8) Updated Registrations
(a) A PRC principal must update their
registration with the Department if any of the following occur:
1. The PRC principal sold the real
property;
2. The PRC principal no
longer owns the real property;
3.
The PRC principal no longer has any interest in the real property; or
4. The PRC principal no longer meets the
definition of a PRC principal as that term is defined in subsection
73C-61.001(13).
(c) A PRC principal who fails to file an
updated registration as required by this rule is not subject to the penalties
imposed by section
692.204, F.S., or Department of
Commerce Rules
73C-61.005 and
73C-61.006, F.A.C.
(9) The prohibition and registration
requirements prescribed by section
692.204, F.S., shall not apply
with respect to any interest that is a de minimis indirect interest.
