Division of Florida Condominiums, Timeshares, and Mobile Homes
Frequently Asked Questions - Yacht and Ships
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.
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
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
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
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
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
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.
You may verify a license by visiting www.myfloridalicense.com, or by contacting the Yacht and Ship Broker’s Section at 850.487.2987.
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
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.
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.
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
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
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