Under Florida law, condominium association (“CA”) board of directors members and homeowners’ association (“HOA”) board of directors members owe fiduciary duties to their associations and the unit or home owners they serve. This generally means that directors must place the interests of the association above their own self-interest and take […]
After a shareholder is ousted from a corporation, is the shareholder still entitled to inspect the corporate records?[1] It is undisputed that Florida law only guarantees access to corporate records to present shareholders. Urfirer v. Cornfeld, 408 F.3d 710, 726 (11th Cir. 2005). However, what if the shareholder demands to […]
Using “self-help” as a means to evict commercial tenants is no longer acceptable and likely to result in a lawsuit against the commercial landlord. When a tenant fails to pay rent as it becomes due, breach appears to be undisputed. After all, paying rent is typically why the tenant is […]
One of the most important aspects of construction project success for subcontractors can be the subcontract agreement. A one-sided subcontract in favor of the contractor can make problems experienced by the subcontractor on the project even worse, and leave the subcontractor with very few options. While subcontractors may not always […]
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Lenders need to be aware that borrowers and other lienholders can bring an action or proceeding to set aside, invalidate, or challenge the validity of a final judgment of foreclosure of a mortgage, even after the foreclosure sale. However, pursuant to Section 702.036 of the Florida Statutes, the foreclosure sale […]
In every foreclosure action, the foreclosing lender will be required to publish some sort of legal advertisement or notice in a newspaper (e.g. the Notice of Foreclosure Sale). “Whenever a legal advertisement, publication, or notice relating to a foreclosure proceeding is required to be placed in a newspaper, it is […]
In Florida, if a property owner (borrower) fails to pay its property taxes, the amount owing may become a lien on the property. If this happens, the tax lien will become superior to the lender’s mortgage lien. Fla. Stat. § 197.122(a). This may be troublesome for lenders because the property […]
Except in cases of an owner-occupied residence, lenders are entitled under Florida law to receive payments during the pendency of a foreclosure proceeding. The rules and procedure for obtaining payments are provided in Section 702.10(2), Florida Statutes. Lenders must pay careful attention to this Florida Statute to ensure they preserve […]
Although a lender may have won the battle by obtaining a final judgment of foreclosure from the court, it may not win the war. Pursuant to Section 702.07 of the Florida Statutes, the circuit courts have the “power and authority to rescind, vacate, and set aside a decree of foreclosure […]