Bulletin: FL000086

Date:
November 02, 1999
To:
All Florida Offices and Agents
RE:
Miami-Dade County Lake Belt Area Affidavit of Disclosure

Dear Associates:

There is a Statute which directs itself to what is known as the Miami-Dade Lake Belt Area, FS 373.4149. This Statute has been amended effective October 1, 1999 in a significant manner. It affects properties in Western Dade County and Southwest Broward County as well.

The area in question is bounded by the Florida Turnpike to the East, the Miami-Dade/Broward County line to the North, Krome Avenue to the West and the Tamiami Trail to the South along with some additional land specified in this Statute. See attached drawing. The lands affected extend two miles beyond the Miami-Dade Lake Belt Area in every direction including into Broward County.

The new Statute requires an AFFIDAVIT OF DISCLOSURE be executed by the owner of any real property affected before the sale, or lease, or the issuance of a development order for any real property located within the Miami-Dade Lake Belt Area or within two miles of the boundary of that area.

A format of an Affidavit in a form prescribed by the County is available through the references section at the end of this bulletin. A drawing of the Lake Belt Area prepared by the Miami-Dade County Department of Planning and Zoning is available through the Florida State Office. Remember that the area of the concern is not merely the black portion of the drawing but all properties located within two miles of that area. THE AFFIDAVIT SHALL BE RECORDED WITH THE RECORDING OF ANY DEED OR LEASE OF PROPERTY WITHIN THE AFFECTED AREA.

The Disclosure required must be made to the grantee and/or leasee and also the County and we believe this is demonstrated by the recording of the Affidavit as an attachment to the Deed with a cross-reference to the legal description contained in the deed. Note that the Affidavit as prepared by the County calls for a legal description to be attached and we suggest that reference may be made back to the Deed for that purpose. However, it is important that your file documents that this Disclosure was made to the Grantee/Leasee prior to closing and so you should maintain in your file a copy of that Affidavit bearing the signatures of the grantees documenting their receipt of the same.

FAILURE TO COMPLY WITH THE ABOVE REQUIREMENTS MAKES THE SALE OF LEASE OF THE REAL PROPERTY VOIDABLE AT THE PURCHASER'S/LEASEE'S OPTION FOR A PERIOD OF SEVEN YEARS FROM THE DATE OF THE AFFIDAVIT OF DISCLOSURE.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
FL Affidavit of Disclosure - Miami-Dade County Lake Belt Area 1