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Definitions and Statutes

December 22, 2020 FAQs Real Estate Development, Sales & Leasing

Q: What section of the Florida Statutes applies to commercial landlord-tenant relationships? A: Florida landlord tenant law is found in Florida Statutes, Chapter 83, and consists of three parts. Part I discusses nonresidential or commercial tenancies. Part II discusses residential tenancies and Part III discusses self-service storage space. Source: Fla. […]

Bankruptcy and its Effects on Foreclosure Proceedings

December 22, 2020 FAQs Banking and Financial Services

Q: How does the borrower filing bankruptcy change my commercial foreclosure filing? A: The filing of bankruptcy by a mortgagor has become a common response to a foreclosure proceeding. The mortgagor may file a voluntary petition under the Bankruptcy Code and become a debtor under Chapter 7 (liquidation), Chapter 11 […]

Actions, Requirements & Results of Foreclosure

December 22, 2020 FAQs Banking and Financial Services

Q: What are statutory notice requirements in Florida? A: With any assertion of default, compliance with notice provisions can be critical. In addition to default and acceleration notices, critical notices in Florida for commercial lenders are sequestration of rents and profits notices pursuant to Chapter 697, Florida Statutes and FDCPA […]

Lender Considerations & Options

December 22, 2020 FAQs Banking and Financial Services

Q: Why would lenders attempt to workout defaulted mortgage loans? A: Once a mortgagor (borrower) has defaulted, it is often advisable to continue exploring constructive solutions to avoid the expense associated with foreclosure and resale of the collateral. Because workouts involve both parties working together to protect each other’s common […]

Foreclosures

December 22, 2020 FAQs Banking and Financial Services

Q: What is a commercial foreclosure? A. When a secured creditor, usually a lending institution, attempts to recover monies owed based on a promissory note made by a commercial entity by legally recovering right to the collateral. Q: What is a decree of foreclosure and what are foreclosure proceedings under […]

Accelerations & Defaults

December 22, 2020 FAQs Banking and Financial Services

Q: What can cause a default and acceleration in a commercial mortgage? A: Generally, the causes for default activating a lender’s right to foreclose are set forth expressly in the mortgage. Florida courts are liberal as to allowing the parties to freely determine what events may constitute default. Fundamentally, mortgage […]

Liens and Distress Actions

December 22, 2020 FAQs Real Estate Development, Sales & Leasing

Q: What is the landlord’s lien for rent? A: Section 83.08, Florida Statutes, provides that a landlord has a lien for unpaid rent upon the tenant’s personal property. The lien is upon all agricultural products raised on the rented property, upon all other property of the tenant “usually kept on […]

Definitions and Requirements for Florida Mortgages

November 20, 2020 FAQs Banking and Financial Services

Q: What is the Florida definition of a mortgage and debt? A: The word “mortgage” shall mean any written instrument securing the payment of money or advances and includes liens to secure payment of assessments arising under Florida Statutes Chapters 718 and 719 and liens created pursuant to the recorded covenants […]

Construction Industry Webinar: You’ve Stopped Getting Paid, Now What?

October 27, 2020 Presentations, Videos Construction

“You’ve stopped getting paid, now what?” aired on Thursday, October 22, 2020. The webinar covered options subcontractors and suppliers can take upon nonpayment on a construction project. The presentation reviewed non-payment issues, and provided ideas for planning, due diligence, and best practices that subcontractors and suppliers can employ when their […]

Construction Industry Webinar: Construction Delay Claims – Best Practices for Subcontractors

September 18, 2020 Presentations, Videos Construction

Construction Delay Claims: Best Practices for Subcontractors aired on Thursday, September 10, 2020. It provided legal insight and best practices to employ throughout a project to improve your chances of successfully bringing a claim for delay, disruption, or acceleration. This Managing Problem Projects webinar was geared towards Subcontractors and was […]

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Charles B. Jimerson
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