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The Florida Senate

2009 Florida Statutes

Real property; dual contracts prohibited.
Section 877.10, Florida Statutes 2009

877.10  Real property; dual contracts prohibited.--

(1)  It is unlawful for any person to knowingly make, issue, deliver, or receive dual contracts for the purchase or sale of real property. Dual contracts, either written or oral, are two contracts concerning the same parcel of real property, one of which states the true and actual purchase price and one of which states a purchase price in excess of the true and actual purchase price and is used as an inducement for mortgage investors to make a loan commitment on such real property in reliance upon the stated inflated value.

(2)  Any violation of this section is a misdemeanor of the second degree, punishable as provided in s. 775.082 or s. 775.083

History.--s. 1, ch. 65-531; s. 1155, ch. 71-136.