Fla. Admin. Code R. 69V-160.012

Current through Reg. 50, No. 253; December 31, 2024
Section 69V-160.012 - Deed or Other Conveyance as Collateral

A licensee shall not permit a borrower to execute and deliver to licensee a deed or other unconditional conveyance transferring ownership or borrower's real or personal property as security or collateral for a loan. Any collateral or security shall be evidenced by an appropriate mortgage or other security instrument. A deed or other conveyance transferring ownership of real or personal property to the borrower shall not be held or kept as collateral or security by a licensee.

Fla. Admin. Code Ann. R. 69V-160.012

Rulemaking Authority 516.22(1), 516.23(3) FS. Law Implemented 516.16 FS.

Amended 10-20-73, Renumbered from 3-2.12 to 3D-160.12 on 8-11-75, Amended 9-1-75, Formerly 3D-160.12, 3D-160.012.

New 10-20-73, Formerly 3-2.12, 3D-160.12, Amended 9-1-75, Formerly 3D-160.012.