Which type of properties are included in a residential transaction according to Florida regulations?

Residential transactions in Florida primarily focus on properties that are utilized for residential purposes. According to Florida regulations, this includes improved residential properties that have four units or fewer. This definition is important for real estate professionals as it helps them understand what types of properties fall under residential transaction guidelines, which is crucial for compliance, documentation, and the applicable laws governing those transactions.

Properties such as five-unit apartments and commercial properties are typically classified under commercial real estate regulations and do not fit the criteria for residential transactions. Similarly, agricultural properties of over ten acres are categorized based on their agricultural use and do not qualify as residential properties. Lastly, commercial leases pertain to non-residential spaces, which again excludes them from the residential transaction definition.

Thus, by identifying "improved residential properties of four units or fewer" as the correct answer, it aligns perfectly with how Florida regulations categorize residential transactions, ensuring that real estate practitioners operate within the correct legal framework.