Perry Law Firm Creditors’ Rights

Calculating Foreclosure Deficiencies

Florida’s 5th DCA recently held (in 2016 WL 7405629) that a trial court “has discretion to find a different value than that provided by either expert, if the trial court provides an articulable, factual basis for doing so that is supported by competent substantial evidence contained in the record.”

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Foreclosure Certificates

The 1st DCA recently held in BofA v. Leonard 2016 WL 6684200 that it was error to dismiss a foreclosure action on the ground the certification failed to comply with the statutory requirements.

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Lis Pendens Termination Date

Florida’s 4th DCA recently heard a case (2016 WL 4468134) concerning the termination date of a lis pendens.  The court concluded “the list pendens therefore logically must terminate along with the action.  The ‘action’ in this case was the foreclosure action initiated by the non-party bank, which terminated thirty days after the court’s issuance of […]

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Reliance

The 5th DCA in Billington v. Ginn-La Pine Island (Case No. 5D14-2177) recently certified to the Florida Supreme Court several questions as to reliance and waiver clauses in real estate contracts in the face of fraudulent misrepresentation claims.

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Mortgage Cancellation

Effective July 1, 2016 Florida Statute 701.03 will be revised from giving lenders 60 days to 45 days to satisfy a mortgage.  Note, there is a second provision addressing open-ended mortgages.

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ABC Could Not Later File Bankruptcy

In a recent decision – 2015 WL 9241140 – the 11th Circuit held that after a business  executed an assignment for the benefit of creditors the appointed assignee could not then subsequently file the business into a bankruptcy.  However, the Court did leave the door open that an assignment could potentially expressly confer this power.  The case illustrates […]

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