Florida property glossary

Florida property has its own vocabulary, and several of these terms carry five-figure consequences. Each entry gives a direct definition, the numbers that usually apply, and a link to the guide where the term does real work.

7 pages · updated October 2026

Frequently Asked Questions

A milestone inspection is a structural safety assessment required at 30 years, or 25 within three miles of the coast, and repeated every ten years. A Structural Integrity Reserve Study is a financial exercise that determines how much the association must hold in reserve for major components. Both come from SB 4-D, and the SIRS is usually what triggers the fee increase or special assessment.

The Foreign Investment in Real Property Tax Act requires the buyer to withhold 15% of the gross sale price when the seller is a foreign person, remitted to the IRS at closing. It is withholding, not a tax: the actual liability is settled on a US return, and a reduced-withholding certificate can lower it, but it must be applied for before closing.

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