January 19, 2020
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Senate Bill 1986

Senate Bill sb1986

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2004                                  SB 1986

    By Senator Aronberg





    27-1221-04                                          See HB 529

  1                      A bill to be entitled

  2         An act relating to deeds or conveyances of real

  3         estate; amending s. 689.07, F.S.; revising

  4         criteria for granting certain estates,

  5         transferring and assigning certain interests,

  6         and vesting certain rights in certain deeds or

  7         conveyances of real estate; providing

  8         legislative intent; providing for retroactive

  9         application; providing an effective date.

10  

11  Be It Enacted by the Legislature of the State of Florida:

12  

13         Section 1.  Subsections (1), (2), and (3) of section

14  689.07, Florida Statutes, are amended to read:

15         689.07  "Trustee" or "as trustee" added to name of

16  grantee, transferee, assignee, or mortgagee transfers interest

17  or creates lien as if additional word or words not used.--

18         (1)  Every deed or conveyance of real estate heretofore

19  or hereafter made or executed, in which the words "trustee" or

20  "as trustee" are added to the name of the grantee, and in

21  which no beneficiaries are named, nor the nature and purposes

22  of the trust, if any, are not set forth, and the trust is not

23  identified by title or date, shall grant and is hereby

24  declared to have granted a fee simple estate with full power

25  and authority in and to the grantee in such deed to sell,

26  convey, and grant and encumber both the legal and beneficial

27  interest in the real estate conveyed, unless a contrary

28  intention shall appear in the deed or conveyance; provided,

29  that there shall not appear of record among the public records

30  of the county in which the real property is situate at the

31  time of recording of such deed or conveyance, a declaration of

                                  1

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2004                                  SB 1986
    27-1221-04                                          See HB 529




 1  trust by the grantee so described declaring the purposes of

 2  such trust, if any, declaring that the real estate is held

 3  other than for the benefit of the grantee.

 4         (2)  Every instrument heretofore or hereafter made or

 5  executed transferring or assigning an interest in real

 6  property in which the words "trustee" or "as trustee" are

 7  added to the name of the transferee or assignee, and in which

 8  no beneficiaries are named, nor the nature and purposes of the

 9  trust, if any, are not set forth, and the trust is not

10  identified by title or date, shall transfer and assign, and is

11  hereby declared to have transferred and assigned, the interest

12  of the transferor or assign or to the transferee or assignee

13  with full power and authority to transfer, assign, and

14  encumber such interest, unless a contrary intention shall

15  appear in the instrument; provided that there shall not appear

16  of record among the public records of the county in which the

17  real property is situate at the time of the recording of such

18  instrument, a declaration of trust by the assignee or

19  transferee so described declaring the purposes of such trust,

20  if any, or declaring that the interest in real property is

21  held other than for the benefit of the transferee or assignee.

22         (3)  Every mortgage of any interest in real estate or

23  assignment thereof heretofore or hereafter made or executed in

24  which the words "trustee" or "as trustee" are added to the

25  name of the mortgagee or assignee, and in which no

26  beneficiaries are named, nor the nature and purposes of the

27  trust, if any, are not set forth, and the trust is not

28  identified by title or date, shall vest and is hereby declared

29  to have vested full rights of ownership to such mortgage or

30  assignment and the lien created thereby with full power in

31  such mortgagee or assignee to assign, hypothecate, release,

                                  2

CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2004                                  SB 1986
    27-1221-04                                          See HB 529




 1  satisfy, or foreclose such mortgage unless a contrary

 2  intention shall appear in the mortgage or assignment; provided

 3  that there shall not appear of record among the public records

 4  of the county in which the property constituting security is

 5  situate at the time of recording of such mortgage or

 6  assignment, a declaration of trust by such mortgagee or

 7  assignee declaring the purposes of such trust, if any, or

 8  declaring that such mortgage is held other than for the

 9  benefit of the mortgagee or assignee.

10         Section 2.  The amendments to section 689.07, Florida

11  Statutes, provided by this act are intended to clarify

12  existing law and shall apply retroactively.

13         Section 3.  This act shall take effect upon becoming a

14  law.

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CODING: Words stricken are deletions; words underlined are additions.

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