Generally speaking, as a result of sections 720.3085 and 718.116, Florida Statutes, lenders who acquire property as a result of their own foreclosure of their first mortgage against their borrower only owe the association the lesser of 12 months back assessments or 1% of the initial mortgage, whichever is less. This is referred to as the lender’s “safe harbor” obligation. But, if the lender refuses to make timely payment to the association, is the lender also responsible for the costs and fees incurred by the association or is the lender only responsible for the “safe harbor” obligation? This was at issue in Emerald Estates Community Association v. U. S. Bank National Association, as decided by Florida’s Fourth District Court of Appeal on April 4, 2018.   Read the article………………