House Bill 1375 amends Florida's judicial sales procedures, focusing on the sale of real and personal property under court orders. The bill introduces several key provisions, including a prohibition on bidding credits or offsets exceeding 10% of the property's assessed value, a requirement for the winning bidder to pay the full purchase price within 30 days, and a stipulation that sales will be voided if this payment condition is not met. It also restricts certain individuals, such as relatives of attorneys involved in the sale, from participating in bidding and mandates that properties must be reauctioned if they do not sell for at least 75% of their assessed value.

Additionally, the bill establishes the "Transparency in Judicial Sales and Foreclosure Sales Act," which aims to enhance public accessibility and transparency in the sale process. It requires that sales be conducted in public locations with reasonable notice and outlines the responsibilities of the court clerk regarding the filing of certificates of sale and title. The bill also specifies that any sale conducted in violation of its requirements is void and must be reauctioned, while allowing courts to implement alternative procedures to minimize expenses and delays. The act is set to take effect on July 1, 2025.

Statutes affected:
H 1375 Filed: 45.031