Florida Regulations 66B-3.011: Purchase Instruments
Current as of: 2024 | Check for updates
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(1) The final negotiated purchase shall be placed in the form of a written purchase instrument, signed by the owner and approved by the Board.
(2) The District may prepare and use any form of purchase instrument approved by the Board as meeting the intent of the law and this rule.
(3) Prior to the closing, the District will have obtained the following information:
(a) The original of the purchase instrument.
(b) A copy of the owner’s disclosure form, if required, under Florida Statutes § 286.23
(c) Evidence of the marketability of the title.
(d) The approved appraisal reports.
(e) A letter from the Department of Environmental Protection’s Division of State Lands stating that the inventory of existing State-owned lands was examined and contains no suitable available land for the District’s use.
(f) A written statement by the District outlining the public purpose for which the acquisition is being made, citing statutory authority.
(g) A written statement signed by the owner confirming the owner’s relationship with his agent, if any.
(h) A written confirmation by the District of the source and availability of funding for the acquisition.
(i) A copy of the current certified survey or appraisal map, approved by the District.
(j) All the details pertinent to the acquisition not included in this list or in the purchase instrument.
(4) The District shall submit the proposed acquisition to the Board for approval. The District shall supply a copy of the proposed purchase instrument and all supporting documentation or a list of all due diligence items to be obtained prior to the closing to the Board for its review.
(5) The Board must authorize all acquisitions of land, title to which will vest in the District, prior to purchase.
(6) The District shall consider an appraisal acquired by the seller, or any part thereof, in negotiating or approving any purchase, but such appraisal shall not be used in lieu of an appraisal required by this rule to determine the maximum offer allowed by law except as otherwise provided by this rule.
Rulemaking Authority Florida Statutes § 374.984(3). Law Implemented 374.984(1)-(3) FS. History-New 8-17-99.
Terms Used In Florida Regulations 66B-3.011
- Appraisal: A determination of property value.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(3) Prior to the closing, the District will have obtained the following information:
(a) The original of the purchase instrument.
(b) A copy of the owner’s disclosure form, if required, under Florida Statutes § 286.23
(c) Evidence of the marketability of the title.
(d) The approved appraisal reports.
(e) A letter from the Department of Environmental Protection’s Division of State Lands stating that the inventory of existing State-owned lands was examined and contains no suitable available land for the District’s use.
(f) A written statement by the District outlining the public purpose for which the acquisition is being made, citing statutory authority.
(g) A written statement signed by the owner confirming the owner’s relationship with his agent, if any.
(h) A written confirmation by the District of the source and availability of funding for the acquisition.
(i) A copy of the current certified survey or appraisal map, approved by the District.
(j) All the details pertinent to the acquisition not included in this list or in the purchase instrument.
(4) The District shall submit the proposed acquisition to the Board for approval. The District shall supply a copy of the proposed purchase instrument and all supporting documentation or a list of all due diligence items to be obtained prior to the closing to the Board for its review.
(5) The Board must authorize all acquisitions of land, title to which will vest in the District, prior to purchase.
(6) The District shall consider an appraisal acquired by the seller, or any part thereof, in negotiating or approving any purchase, but such appraisal shall not be used in lieu of an appraisal required by this rule to determine the maximum offer allowed by law except as otherwise provided by this rule.
Rulemaking Authority Florida Statutes § 374.984(3). Law Implemented 374.984(1)-(3) FS. History-New 8-17-99.