F.S. 697.08 Florida Statutes and Case Law

The 2022 Florida Statutes (including 2022 Special Session A and 2023 Special Session B)

Title XL
REAL AND PERSONAL PROPERTY

Chapter 697
INSTRUMENTS DEEMED MORTGAGES AND THE NATURE OF A MORTGAGE

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697.08 Equity skimming.—

(1) It is unlawful for any person, with intent to defraud the owner of real property, to engage in equity skimming, which is, to:

(a) Purchase, within a 3-year period, two or more single-family dwellings, two-family dwellings, three-family dwellings, or four-family dwellings, or a combination thereof, that are subject to a loan that is in default at the time of purchase or within 1 year after the time of purchase, which loan is secured by a mortgage or deed of trust;

(b) Fail to make payments under the mortgage or deed of trust as the payments become due, regardless of whether the purchaser is obligated on the loan; and

(2) A violation of subsection (1) constitutes a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.

History.—s. 1, ch. 94-288; s. 775, ch. 97-102.

Statutes updated from Official Statutes on: March 07, 2023

F.S. 697.08 on Google Scholar

F.S. 697.08 on Casetext

Amendments to 697.08

Arrestable Offenses / Crimes under Fla. Stat. 697.08

Level: Degree
Misdemeanor/Felony: First/Second/Third

697.08 - EMBEZZLE - EQUITY SKIMMING - F: T

Civil Citations / Citable Offenses under S697.08

R or S next to points is Mandatory Revocation or Suspension

Current data shows no reason a civil citation or a suspension or revocation of license should have been issued under Florida Statute 697.08.

The 2022 Florida Statutes (including 2022 Special Session A and 2023 Special Session B)

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