Florida Department of Revenue

Economic conditions have increased the frequency of transactions associated with sales under duress. While a variety of circumstances exist, a large number share the common feature of the seller selling a property for a price that is less than the outstanding debt secured by the property. These transactions have come to be known as short sales. Short sales provide a way for homeowners to avoid the formal foreclosure process and still be able to pay off their loan by settling with lender.

Memorandum from the Department of Revenue to Property Appraisers
10/10/08 Department of Revenue memorandum RE: Qualification Process Regarding Short Sales

Bulletin PTO 08-22: Transfers Related to Actual or Potential Foreclosure