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September 2014 Archives

Requirements imposed on foreclosure complaints

The Florida legislature has established certain requirements that must be met by plaintiffs in foreclosure actions involving mortgages or liens on residential property. The necessary elements are set forth in Chapter 702 of Title XL of the 2014 Florida Statutes and apply to units in cooperatives and condominiums as well as free-standing real estate. Foreclosures of interests in timeshares are subject to different rules.

Real estate rebates in Florida

Florida is one of 40 states that have no bans on rebates in residential real estate transactions. A rebate is when a real estate broker offers some type of incentive to attract clients to the firm. This could include refunding part of the brokerage commission to the buyer, offering gifts with a completed transaction or even paying closing costs.

Florida couple faces legal battle over unrecorded easement

A Florida couple are in danger of losing the business that they have spent 17 years building because of a conservation easement on their property that was unrecorded and thus did not appear on a title search. The real estate dispute will be decided by a Florida circuit court judge, but the couple are worried that the court will be swayed by arguments that a ruling in their favor could lead to a flood of similar claims.

South Florida real estate litigation continues

Developers in South Florida are trying to survive the bleak real estate market which has continued since the recession. A majority of the struggles are the result of condominium and hotel deals gone wrong. Lenders are becoming more aggressive instead of waiting to enforce further legal action against borrowers. A continuation of mortgage financing resulting in default is apparent as the legal battles show no sign of subsiding.

Short sales and their consequences

As a Florida homeowner, you may wonder about the implications and options with a short sale. A short sale is when a home is to be sold for an amount that is less than what is owed to the mortgage holder on the property. Economic changes may create the conditions that cause a homeowner to consider such an approach to disposing of a property, especially if housing values have decreased to the point at which it is unlikely that a sale would be able to recover the amount outstanding on an existing mortgage.