FL Excess Profit Escrow and Interest
FL excess profit escrow: funds held representing profits above threshold. Context: subsidized/affordable housing (LIHTC, HOME, SAIL: return excess to program), condo conversions (Section 718.303), and bulk sales (holdback for verification). Escrow interest: FL requires proper accounts (FREC regulated), interest follows contract terms, no commingling. Disputes: calculation (what constitutes profit), disbursement (when/to whom), interest (ownership), and breach. Resolution: escrow agreement provision or interpleader action.
What It Is
- Profits above threshold
- Housing programs, conversions
- Holdback for verification
Interest Rules
- FREC regulates accounts
- Follows contract terms
- No commingling
Disputes
- Calculation, disbursement
- Interest ownership
- Interpleader if unresolved
Related Terms
Barnes Walker Real Estate
Barnes Walker’s attorneys handle FL escrow disputes. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. § 475.25
Florida law requires real estate brokers to maintain escrow accounts for deposits and establishes dispute resolution procedures when buyer and seller disagree over earnest money.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC