Florida Statutes 877.101 – Escrow business by unauthorized persons; use of name
Current as of: 2024 | Check for updates
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(1) Except as provided in subsection (2), in connection with the purchase and sale of real property, a person may not:
For details, see Fla. Stat. § 775.082(4)(a)
(a) Transact business under any name or title that contains the word “escrow” or words of similar import; or
Attorney's Note
Under the Florida Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| misdemeanor of the first degree | up to 1 year | up to $1,000 |
Terms Used In Florida Statutes 877.101
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01
(b)1. Use any name, word, sign, symbol, or device in any context or in any manner; or
2. Circulate or use any letterhead, billhead, circular, paper, or writing of any kind or otherwise advertise or represent in any manner
that indicates or reasonably implies that the business being conducted or advertised is the kind or character of business transacted that is regulated by this state as an escrow agent.
(2) This section does not apply to:
(a) A financial institution as defined in s. 655.005;
(b) An attorney who is a member of The Florida Bar or his or her law firm;
(c) A person who is licensed pursuant to chapter 475 or his or her brokerage firm; or
(3) Any person aggrieved by a violation of this section may bring an action in a court of competent jurisdiction to obtain a declaratory judgment that an act or practice violates this section.
(4) In any action brought by a person who has suffered a loss as a result of a violation of this section, such person may recover actual damages, plus attorney’s fees and court costs.