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The Florida Senate

2007 Florida Statutes

Section 498.003, Florida Statutes 2007

498.003  Legislative intent.--

(1)  The Legislature expressly recognizes that the disposition of any interest in subdivided lands has a vital impact on Florida's economy and that such land sales constitute a major industry within this state, employing many citizens, attracting thousands of visitors and new residents, and contributing countless dollars to the total annual gross income of the state. The Legislature also recognizes that the manner of conducting this business, including sales, financing, advertising, and promotional methods, is of direct concern not only to those engaged in the business but to the purchasers and public as well.

(2)  The severe impact upon the land sales industry and upon the economic and political climate of the state of false, misleading, and fraudulent methods in the disposition of any interest in subdivided lands, and the probable detrimental effects of default by companies and persons engaged in the disposition of any interest in subdivided lands, create a danger to the economic well-being of the people of the State of Florida.

(3)  It is therefore the intent of the Legislature to provide safeguards regulating the disposition of any interest in subdivided lands, including financial operations entered into by companies and persons regulated by the Florida Uniform Land Sales Practices Law, to prevent fraudulent and misleading methods and unsound financing techniques which could detrimentally affect not only remote land purchasers, but also the land sales industry, the public, and the state's economic well-being.

(4)  This law is remedial as well as penal in purpose, and the remedial portions shall be liberally construed to effectuate this purpose.

History.--s. 17, ch. 76-262; ss. 2, 30, 32, ch. 79-347; ss. 2, 3, ch. 81-318; ss. 2, 33, 34, ch. 88-90; s. 4, ch. 91-429.

Note.--Former s. 478.015.