NOTICE IS HEREBY GIVEN that on May 09, 2006, the Florida Real Estate Commission has issued an order.
Final Order regarding the Petition for Declaratory Statement filed by Southridge Partners I. The Notice of Petition for Declaratory Statement was published in Vol. 32, No. 25, of the June 23, 2006, F.A.W. In its petition, Southridge Partners I sought an opinion from the Commission concerning Section 475.011(2), Florida Statutes, as to whether the services that the general partner provides in selling the limited partnership’s real property enjoys exemption from the Florida Real Estate License law.
The Commission considered the Petition at a duly-noticed public meeting, held July 18, 2006, in Orlando, Florida. In its Final Order, filed on August 30, 2006, the Commission only responded to the specific facts and questions set forth in the Petition for Declaratory Statement. The Commission’s opinion was that the sale of Petitioner’s real property by the general partner: (i) is not a service of real estate that requires the general partner to hold a Florida real estate license under Section 475.01(1)(a), Florida Statutes, nor (ii) for which receipt of compensation based on a percentage of the sales price of the real property will constitute a violation of real estate law in the state of Florida because the Petitioner enjoys an exemption from licensure pursuant to Section 475.011(2), Florida Statutes.
A copy of the Order may be obtained by contacting: Lori Crawford, Deputy Clerk, Division of Real Estate, 400 West Robinson Street, Suite N801, Orlando, Florida 32801.