2012 Florida Statutes
TITLE XXXII — REGULATION OF PROFESSIONS AND OCCUPATIONS
Chapter 475 — REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERS
PART III — COMMERCIAL REAL ESTATE SALES COMMISSION LIEN ACT
475.715 — Priority of recorded commission notice.
475.715 Priority of recorded commission notice.—All statutory liens, consensual liens, mortgages, deeds of trust, assignments of rents, and other encumbrances, including all advances or charges made or accruing thereunder, whether voluntary or obligatory, and all modifications, extensions, renewals, and replacements thereof, recorded prior to the recording of a commission notice pursuant to the provisions of s. 475.707, have priority over the commission notice. The closing agent shall compute the owner s net proceeds by subtracting from the gross sales proceeds the amount required to discharge any such prior recorded lien and the amount of money secured by any such prior recorded lien that the buyer permits to remain a lien against the title to the commercial real estate. A prior recorded lien includes, without limitation, a valid construction lien claim that is recorded after the recording of the broker s commission notice but which relates back to a notice of commencement recorded under s. 713.13 prior to the recording date of the broker s commission notice.
History.—s. 1, ch. 2005-275; s. 14, ch. 2006-210.
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