Michael Cochran, Director
Division of Florida Condominiums, Timeshares, and Mobile Homes
1940 North Monroe Street
Tallahassee, FL 32399
Phone: 850.488.1122
Fax: 850.921.5446
Division of Florida Condominiums, Timeshares, and Mobile Homes
Frequently Asked Questions - Yacht and Ships
5. What is an "employing broker"?
6. What is a foreign or out-of-state yacht broker or salesperson?
7. How do I obtain a license to become a yacht and ship broker or salesperson in Florida?
10. How do you find out if a yacht broker or salesperson is licensed by the state of Florida?
12. How do you file a complaint against a yacht broker or salesperson?
13. What types of complaints against a yacht broker or salesperson are considered for
investigation?
_____________________________
1. What chapter of law governs the licensing and regulation of yacht and ship brokers and salespersons in the state of Florida?
Chapter 326, Florida Statutes, the Yacht and Ship Brokers’ Act.
A yacht is a vessel that exceeds 32 feet in length, weighs less than 300 gross tons, and is propelled by sail or machinery in the water.
Cite: Section 326.002(4), Florida Statutes
A new yacht is a yacht that has never been titled or prevuiously owned.
Cite: None
4. What is the difference between a Florida licensed yacht and ship broker and a Florida licensed yacht salesperson?
A Florida licensed yacht and ship broker is a person who has been licensed by the Division of Florida Condominiums, Timeshares, and Mobile Homes (Division), and who, for or in expectation of compensation: sells, buys, offers, or negotiates to sell or buy; solicits or obtains listings of; or negotiates the purchase, sale, or exchange of yachts for other persons. An applicant for a broker’s license must file with Division a surety bond or letter of credit in the sum of $25,000. Additionally, a broker must maintain an escrow account in a Florida financial institution. A Florida licensed yacht salesperson is a person who has been licensed by the Division, and who is employed by a broker to perform any acts of a broker. Each salesperson’s license must remain in the possession of the employing broker until canceled or until the salesperson leaves such employment. Immediately upon a salesperson’s withdrawal from the employment of a broker, the broker must return the salesperson’s license to the Division for cancellation. An applicant for a salesperson’s license must file a surety bond or letter of credit in the sum of $10,000 with the Division.
Cite: Sections 326.002(1) & (3) and 326.004, Florida Statutes, and Rule 61B-60.004, Florida Administrative Code
5. What is an "employing broker"?
An employing broker is a Florida licensed yacht and ship broker who is responsible for the actions of all yacht salespersons under their license. Each salesperson’s license must remain in the possession of the employing broker until canceled or until the salesperson leaves such employment. Immediately upon a salesperson’s withdrawal from the employment of a broker, the broker must return the salesperson’s license to the Division for cancellation.
Cite: Section 326.004(14)(b), Florida Statutes
6. What is a foreign or out-of-state yacht and ship broker or salesperson?
A foreign or out-of-state yacht and ship broker or salesperson is a yacht and ship broker or salesperson who primarily conducts business outside of Florida or outside of the United States, and does not have a Florida yacht and ship broker license or a Florida yacht salesperson license. Foreign or out-of-state brokers may conduct business with Florida licensed brokers, as long as they do not physically enter the state of Florida to act as brokers or salespersons.
Cite: Rule 61B-60.001(1)(j), Florida Administrative Code
7. How do I obtain a license to become a yacht broker or salesperson in Florida?
To apply for a yacht and ship broker or salesperson license, you must file with the Division of Florida Condominiums, Timeshares, and Mobile Homes:
- a completed application (DBPR Form YS 6000-1)
- a $551 fee
- a complete set of fingerprints
- an original surety bond or letter of credit in the amount of $10,000 for a salesperson’s license or $25,000 for a broker’s license.
Mail to: Department of Business and Professional Regulation
Attn: FCTMH’s Yacht and Ship Section
1940 North Monroe Street
Tallahassee, Florida 32399-1028
Contact us at 850.487.2987 if you have any questions.
Cite: Rule 61B-60.003, Florida Administrative Code
8. How long does it take to process an application for a license to act as a yacht and ship broker or salesperson?
Once the Division’s Yacht and Ship Broker’s Section receives an application packet, it is reviewed for completeness, and then processed within a few days. If the application packet includes a completed application with required signatures, a $551 fee, a complete set of fingerprints, and an original surety bond or letter of credit, a 90 day temporary license is issued. Once the results of the background check are reviewed and found acceptable, a permanent 2-year license is issued.
Cite: Rule 61B-60.003, Florida Administrative Code
9. What steps need to be taken in order to change brokerage companies or make other changes to a yacht and ship broker or salesperson license?
A Change Form needs to be completed and submitted to the Division’s Yacht and Ship Broker’s Section, along with the $100 change fee, if required.
Cite: None
10. How do you find out if a yacht broker or salesperson is licensed by the state of Florida?
You may verify a license by visiting www.myfloridalicense.com, or by contacting the Yacht and Ship Broker’s Section at 850.487.2987.
Cite: None
11. When is a yacht and ship broker’s or salesperson’s license not required for a yacht transaction in Florida?
A license is not required for a person who sells his or her own yacht; a transaction involving the sale of a new yacht; an attorney at law for services rendered in his or her professional capacity; a receiver, trustee, or other person acting under a court order; or, a transaction involving the foreclosure of a security interest in a yacht.
Cite: Section 326.004(3), Florida Statutes
12. How do you file a complaint against a yacht broker or salesperson?
You may file a complaint form with the Division or contact the Yacht and Ship Broker’s Section at 850.487.2987. Along with the complaint form, any supporting documentation should be included in order to assist in substantiating alleged violations of the Yacht and Ship Broker’s Act.
Cite: None
13. What types of complaints against a yacht broker or salesperson are considered for investigation?
Complaints come from the buying and selling public, licensees, anonymous sources or tips, other enforcement agencies, or may be opened internally. Investigations may address ownership of the vessel; unlicensed activity; escrow violations, such as commingling of funds or failure to return deposits; fraud or dishonest acts; misrepresentation; improper conduct; or any other violations of the Yacht and Ship Brokers’ Act.
Cite: None
14. What protection can I expect from doing business with a licensed Florida yacht broker or salesperson?
Licensed Florida yacht brokers and salespersons undergo a criminal background check, and are also required to file a surety bond or letter of credit that covers their licensure period. In the event of a violation of the Yacht and Ship Brokers’ Act, anyone harmed as a result of a violation by a licensee may file a claim against the licensee’s surety bond or letter of credit.
Cite: Section 326.004(7), Florida Statutes
15. What happens if an investigation against a yacht broker or salesperson finds a violation of the law?
The Division has authority to impose civil penalties up to $10,000 per violation, and suspend or revoke licenses. Investigations may be resolved by a consent order or other administrative action, and the division may bring action in circuit court.
Cite: Section 326.006(2)(d), Florida Statutes
Other Related Websites
Notice: By accessing the links below you will be leaving the DBPR website. DBPR is not responsible for the content of the website you are about to enter. DBPR neither warrants nor makes any representations nor endorsements as to the accuracy, quality, content or completeness of the information, text, images, graphics, hyperlinks and other items contained on the website you are about to enter. DBPR is not responsible or liable for any viruses or contaminations of your hardware, software, peripherals or property, resulting from use of websites linked to the DBPR website.
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