Division of Florida Condominiums, Timeshares, and Mobile Homes

Frequently Asked Questions - Yacht and Ships

• Definitions
  
  
• Licensing
  
  
• Complaints and Investigations
  
  
• Other Related Websites

Definitions

1. What size vessel is regulated under the Florida law?

Transactions are regulated if they involve yachts which are propelled by sail or machinery in the water which exceed 32 feet in length and which weigh less than 300 gross tons.

2. Who is considered a broker?

A broker is a person who, for or in expectation of compensation: sells, offers, or negotiates to sell; buys, offers, or negotiates to buy; solicits or obtains listings of; or negotiates the purchase, sale, or exchange of, yachts for other persons.

3. Who is considered a salesperson?

A salesperson is a person who, for or in expectation of compensation, is employed by a broker to perform any acts of a broker.

4. Are there situations that do not require licensure?

Yes. A license is not required for a person who sells his own yacht; an attorney at law for services rendered in his professional capacity; a receiver, trustee, or other person acting under a court order; a transaction involving the sale of a new yacht; or a transaction involving the foreclosure of a security interest in a yacht.

Licensing

5. What protection can I expect by doing business with a licensed Florida yacht broker or salesperson?

Yacht brokers and salespersons undergo a background check for good moral character. They are also required to maintain a surety bond for the period of licensure, which is accessible to claims by anyone injured by neglect deceit or fraud by a licensee.

6. How do I become a licensed yacht broker or salesperson in Florida?

Submit an application form along with a fingerprint card, an original bond or letter of credit, and a fee of $551.00 for a two year license. This fee includes a $51.00 fingerprint processing fee. To be licensed as a broker, one must first be licensed as a salesperson for two consecutive years.

7. How long do I wait to receive my license after I send the application to the state?

Once the section receives the application and all forms are properly filled out and signed, we issue a temporary 90 day license very rapidly so that applicants can get to work. It takes approximately 60-90 days for the FBI to process the fingerprint cards.

8. How can I find out if a yacht broker or salesperson is licensed by the state of Florida?

You may access our license database or call our Tallahassee office.

Complaints and Investigations

9. Where do complaints originate?

Complaints can originate from the buying and selling public, from licensees, and from other enforcement agencies such as police departments, the Department of Revenue and the Division of Consumer Services. The section initiates investigations upon receipt of information from numerous sources such as trade publications and magazines, local and marine newspapers, anonymous letters, faxes, e-mails, and phone calls. Investigators are also active at major Florida boat shows.
 
10. What can I expect after filing a complaint?

An investigator will contact the person who files the complaint to acknowledge its receipt and to obtain more information, if available. The person against whom the complaint was filed may be contacted depending on the findings of the investigator in his/her preliminary review of the issues.

11. What types of complaints are considered for investigation?

Investigations may address ownership of a vessel, possible unlicensed brokering, commingling of funds, failing to deposit funds into a trust account, improper use of trust account funds, failure to collect or remit sales or use tax, fraud or dishonest acts, substantial and intentional misrepresentation, allowing an unlicensed person to use his name to broker, improper conduct, etc. The section will provide bond information on issues not investigated or deemed outside of its enforcement authority, including possible fraud, deceit or willful negligence.

12. Will all complaints be investigated?

The section has discretion under the law to decide which complaints will be investigated and which cases will be prosecuted.

13. What happens if an investigation reveals violations of the law?

An investigative report is prepared and reviewed by the administrative staff and attorneys for possible action. The violator referred to as the "respondent" will be contacted. The action taken by the state may consist of a notice of non-compliance, a cease and desist order, the suspension or revocation of his/her license, the imposition of civil penalties, and/or an order of specific affirmative action. The respondent has certain due process rights described under Chapter 120, Florida Statutes, known as the Administrative Procedures Act.

14. How can I find out about the outcome of an investigation or if a particular broker or salesperson has been disciplined?

A request may be made to the section under the Public Records Act.

Other Related Websites

Florida Vessel Registration and Titles

United States Coast Guard Home Page

Florida Fish and Wildlife Conservation Commission

Florida Yacht Brokers Association

Marine Industries of South Florida

The Marine Council