What does a residential transaction include according to Florida Statutes?

A residential transaction, as defined by Florida Statutes, encompasses the sale of duplexes and improved residential properties that consist of four units or fewer. This definition is significant because it establishes a clear boundary for what constitutes residential real estate transactions within the state.

The inclusion of duplexes indicates that multifamily residential properties with two units fall under this definition, thereby reflecting the diversity of residential property types. Additionally, the limitation to four units or fewer aligns with the typical classification of residential properties as opposed to larger commercial or multifamily investments that would involve five or more units.

Understanding this definition is crucial for real estate professionals, as it influences the jurisdiction of various regulations, licensing requirements, and transactional procedures they must follow. This distinction helps ensure proper adherence to the legal frameworks governing residential sales.

In the context of the other options, the first option is limited to only single-family homes, which is too narrow and does not reflect the inclusion of duplexes. The second option refers to properties with more than four units, which fall into commercial or multifamily categories and are not classified as residential transactions. The fourth option includes agricultural properties, which are not considered residential under Florida’s regulations, as they serve a different market and purpose altogether.