Florida Supreme Court May Decide Fate of Liens Recorded After Foreclosure Judgments

Real estate investors, municipalities, and community associations may gain some clarity about post-judgment liens if the Florida Supreme Court decides to hear Ober v. Town of Lauderdale By-the-Sea, Case No.: 4D14-4597 (Fla. 4th DCA, January 25, 2017). The case has garnered interest from municipalities, creditors and the real estate sector regarding the enforceability of liens recorded against a property during the uncharted gap between judgments and sales.  The issue arose when a lender filed to foreclose its mortgage, recorded a lis pendens against the property, obtained a final foreclosure judgement, but did not complete the foreclosure sale. Instead, the property sat vacant and unattended for four years. During that time, the town of Lauderdale-by-the-Sea cited various code violations and imposed liens valued at hundreds of thousands of dollars. The lender ultimately completed its foreclosure sale in 2012 wherein Ober was the successful bidder.    Read the article………………

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