Equitable Interest

[Rodney Williams]

I have read several post here in BP on this subject, however I only see peoples opinon.

Here in Florida I have been told by an investigator from the DBPR Division of Real Estate that in order for there to be an equitalble interest in an Option to Purchase Contract said contract must be filed with the Clerk of the Court and there must be monetary consideration paid to the seller.

Failure to follow this will result in a charge of practicing Real Estate without a license.

He even said than many attorneys do not know this. Is there anyone that can shed some legal light on this. Even some direction as to where to find such a law would help. I have read the Statutes and see no information.

[Rodney Williams]

Originally posted by @Khristi Cummings:

Hi Rodney - Do you mind sharing the outcome of your experience?

I did talk to Khristi about the outcome, however I wanted to update it here.

Two years after talking to the investigator I was summoned by the State of Florida in a law suit for unlawfully practicing real estate without a license. I answered the summons line by line explaining evidence in hand. The case was dismissed.