Less Than Fee Program
Do you own a home and the adjacent vacant lot in unincorporated Monroe County?
If yes, the County Commission’s Less than Fee Program may be of interest to you.
Due to funding shortfalls, the Less Than Fee Program has been suspended. If you would like additional information or answers to questions, please contact Paunece Scull at 305-292-3470 or Scull-Paunece@MonroeCounty-FL.Gov.
What is the "Less than Fee" (LTF) Program?
It is a willing seller program that would allow you to retain ownership of the adjacent, vacant lot and use it for legally allowed accessory uses like a pool, open yard or garage in exchange for selling the right to build a home on that lot in perpetuity.
Why has the County created this Program?
Due to state and federal regulations, the Monroe County Board of County Commissioners has a limited number of residential building permits that it can issue to those seeking to build a house on a vacant lot. In order to eliminate potential residential building rights on vacant land that would otherwise affect our environment, roads and hurricane evacuation, the County Commission created this voluntary Less than Fee Program to retire building rights.
The Program is Very Simple
The County’s offer price for the residential building right on the adjacent lot is the current Market Land Value (MLV) as calculated by the Monroe Property Appraiser. Under the Florida Constitution, the Property Appraiser is independent from the County Commission and is elected by the voters of Monroe County.
The County may offer to pay you 100% of the MLV provided that you agree to a deed restriction permanently retiring the right to build a home on your vacant lot. The program is completely voluntary for both parties and is subject to available funding.
The County will prepare all of the documents necessary to finalize the transaction and will record them for you.
The Willing Seller Process - Four Steps:
- Fill out the “Less than Fee” application Opens a New Window. and submit it. Or you can mail a printed version of the filled out application to the Monroe County Attorney’s Office, c/o Paunece Scull, Assistant County Attorney, 1111 12th Street, Suite 408, Key West FL 33040 or email it to Scull-Paunece@monroecounty-fl.gov Opens a New Window. .
- The County’s Planning Department will conduct a preliminary review of your property to determine its eligibility for the program.
- If eligible, the County will send you a standard contract to purchase Opens a New Window. your building right of your vacant lot. Once you have returned the signed purchase contract, the Monroe County Land Authority will conduct a title search at the County’s expense.
- The County Attorney will review and approve all completed documents. All contracts are subject to final approval by the County Commission at a public meeting.
Who Pays for What?
- The County will pay for the costs of the title search and all recording fees.
- If you have a mortgage or other lien on the lot, you will need to gain your bank or lienholder’s consent. You may incur some expense in resolving these issues.
- You may designate a representative (e.g., attorney, realtor, etc.) as your contact person, though you will be responsible for paying your lawyer or agent. You must provide at least one contact person (it can be you as the owner) in order to make this program move as quickly as possible.
- The Seller must pay Documentary Tax Stamps based upon the price paid. This cost will be deducted from your final payment at closing.
You are not obligated to participate in this program. However, if you would like additional information or answers to questions, please contact Paunece Scull at 305-292-3470 or Scull-Paunece@MonroeCounty-FL.Gov Opens a New Window. .
Less Than Fee Program Application
- Covenant of Unity of Title & Restriction on Future Development and/or Conveyances Opens a New Window.
- BOCC Agreement for the Purchase of Less than Fee Interest in Lands Opens a New Window.