HB 0529 2004
1	A bill to be entitled
2	An act relating to deeds or conveyances of real estate;
3	amending s. 689.07, F.S.; revising criteria for granting
4	certain estates, transferring and assigning certain
5	interests, and vesting certain rights in certain deeds or
6	conveyances of real estate; providing legislative intent;
7	providing for retroactive application; providing an
8	effective date.
9
10	Be It Enacted by the Legislature of the State of Florida:
11
12	Section 1. Subsections (1), (2), and (3) of section
13	689.07, Florida Statutes, are amended to read:
14	689.07 "Trustee" or "as trustee" added to name of grantee,
15	transferee, assignee, or mortgagee transfers interest or creates
16	lien as if additional word or words not used.--
17	(1) Every deed or conveyance of real estate heretofore or
18	hereafter made or executed,in which the words "trustee" or "as
19	trustee" are added to the name of the grantee, and in which no
20	beneficiaries are named, northe nature and purposes of the
21	trust, if any, are not set forth, and the trust is not
22	identified by title or date,shall grant and is hereby declared
23	to have granted a fee simple estate with full power and
24	authority in and to the grantee in such deed to sell, convey,
25	and grant and encumber both the legal and beneficial interest in
26	the real estate conveyed, unless a contrary intention shall
27	appear in the deed or conveyance; provided, that there shall not
28	appear of record among the public records of the county in which
29	the real property is situate at the time of recording of such
30	deed or conveyance, a declaration of trust by the grantee so
31	described declaring the purposes of such trust, if any,
32	declaring that the real estate is held other than for the
33	benefit of the grantee.
34	(2) Every instrument heretofore or hereafter made or
35	executed transferring or assigning an interest in real property
36	in which the words "trustee" or "as trustee" are added to the
37	name of the transferee or assignee, and in which no
38	beneficiaries are named, northe nature and purposes of the
39	trust, if any, are not set forth, and the trust is not
40	identified by title or date,shall transfer and assign, and is
41	hereby declared to have transferred and assigned, the interest
42	of the transferor or assign or to the transferee or assignee
43	with full power and authority to transfer, assign, and encumber
44	such interest, unless a contrary intention shall appear in the
45	instrument; provided that there shall not appear of record among
46	the public records of the county in which the real property is
47	situate at the time of the recording of such instrument, a
48	declaration of trust by the assignee or transferee so described
49	declaring the purposes of such trust, if any, or declaring that
50	the interest in real property is held other than for the benefit
51	of the transferee or assignee.
52	(3) Every mortgage of any interest in real estate or
53	assignment thereof heretofore or hereafter made or executed in
54	which the words "trustee" or "as trustee" are added to the name
55	of the mortgagee or assignee,and in which no beneficiaries are
56	named, nor the nature and purposes of the trust, if any, are not
57	set forth, and the trust is not identified by title or date,
58	shall vest and is hereby declared to have vested full rights of
59	ownership to such mortgage or assignment and the lien created
60	thereby with full power in such mortgagee or assignee to assign,
61	hypothecate, release, satisfy, or foreclose such mortgage unless
62	a contrary intention shall appear in the mortgage or assignment;
63	provided that there shall not appear of record among the public
64	records of the county in which the property constituting
65	security is situate at the time of recording of such mortgage or
66	assignment, a declaration of trust by such mortgagee or assignee
67	declaring the purposes of such trust, if any, or declaring that
68	such mortgage is held other than for the benefit of the
69	mortgagee or assignee.
70	Section 2. The amendments to section 689.07, Florida
71	Statutes, provided by this act are intended to clarify existing
72	law and shall apply retroactively.
73	Section 3. This act shall take effect upon becoming a law.