Florida § 494.0071 - Expiration of lock-in agreement or commitment.
Full text of Florida Florida Statutes § 494.0071 — Expiration of lock-in agreement or commitment., with citation guidance and answers to common questions.
§ 494.0071. Expiration of lock-in agreement or commitment.
If a lock-in agreement has been executed and the loan does not close before the expiration date of the lock-in agreement or any commitment issued consistent therewith through no substantial fault of the borrower, the borrower may withdraw the application or reject or terminate any commitment, whereupon the mortgage lender shall promptly refund to the borrower any lock-in fee and any commitment fee paid by the borrower.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 494.0071
What does Florida Statutes § 494.0071 cover?
Section 494.0071 ("Expiration of lock-in agreement or commitment.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 494.0071?
A common citation format is "Florida Statutes § 494.0071" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 494.0071 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.