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Lenders Beware: Foreclosure Judgments Can be Set Aside At Any Time Before The Sale Occurs

Jimerson Firm

Although a lender may have won the battle by obtaining a final judgment of foreclosure from the court, it may not win the war. Although a lender may not be able to avoid this from happening, it should be aware of how and why their final judgment of foreclosure may be set aside. Why Would a Final Judgment of Foreclosure be Set Aside?

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Overview of Florida’s New Uniform Commercial Real Estate Receivership Act

Jimerson Firm

sell, lease, license, exchange, collect, or otherwise dispose of receivership property.” § 714.02(14), A receiver is defined in the Act as a “person appointed by the court as the court’s agent, and subject to the court’s direction, to take possession of, manage, and, if authorized. Receivers have broad duties and powers under section 714.12

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Canceling and Rescheduling a Mortgage Foreclosure Sale Now Requires a Motion

Jimerson Firm

Form 1.996(c), Motion to Cancel and Reschedule Foreclosure Sale, was adopted because “many foreclosure sales set by the final judgment and handled by the clerks of court [were] the subject of vague last-minute motions to reset sales without giving any specific information as to why the sale [was] being reset. In re Amendments To The Fla.

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Supreme Court Expands Creditors’ by Allowing Denial of a Discharge Under Sec. 523(a)(2)(A) if Debtor Transfers Assets in Violation of State Fraudulent Transfer Statute

The Creditors Rights

Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. Husky sued Ritz under a Texas statute which allows creditors to hold shareholders responsible for corporate debts under circumstances involving actual fraud.

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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes

Jimerson Firm

Additionally, during a foreclosure action, the lender/mortgagee can request the borrower/mortgagor to deposit the collected rents into the registry of the court or in such other depository as designated by the court. §697.07(4). does not apply to hotel revenues stems from a line of bankruptcy cases decided in the early 1990s.

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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties

Jimerson Firm

For example, when a borrower becomes insolvent or files for bankruptcy, the lender can still attempt to mitigate its damages by seeking to recover all or a portion of its damages from the guarantor. Additionally, Florida law provides that there can be multiple judgments for the same debt but the same debt can only be collected once.

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