COOPER SMITH PROPERTIES, LTD., APPELLANT,
v.
FLOWER'S BAKING CO. OF FLORIDA, INC., ETC., JAMES W. DUGAN AND A.P. HENDERSON, APPELLEES
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A mortgagor's redemption of foreclosed property is valid when the mortgagor deposits the full amount determined due by the final foreclosure judgment before the certificate of title is issued, and no court permission is required to exercise the redemption right.
A mortgagor may redeem foreclosed property by depositing the amount found due in the final foreclosure judgment without court permission, provided the deposit is made before the certificate of title is issued.
[1] A mortgagor redeeming foreclosed property need only deposit the amount determined due by the final foreclosure judgment and requires no court permission to exercise the r…
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Join FLexlaw to unlock all legal intelligence“A mortgagor attempting to redeem should not be required to pay any amount in excess of what the final judgment of foreclosure determines to be due.”
Court stating the governing principle for redemption amounts in foreclosure cases.
Cooper Smith Properties sought to redeem property from a foreclosure judgment. The trial court required the mortgagor to deposit an amount greater tha…
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ORFINGER, Chief Judge.
The order of the trial court determining that the mortgagor was required to deposit with the Clerk a sum greater than the amount which the final judgment of foreclosure found to be due in order to redeem his property from that judgment, was error. A mortgagor attempting to redeem should not be required to pay any amount in excess of what the final judgment of foreclosure determines to be due. Blue Heron Land Co. v. Brown, 98 Fla. 1238, 125 So. 369 (1930). See also, Flagler Center Building Loan Corp. v. Chemical Realty Corporation, 363 So. 2d 344 (Fla. 3d DCA 1978). Neither do we find anything in section 45.031, Florida Statutes (1981), that requires a mortgagor to seek permission of the court in order to exercise his right of redemption, which exists up to the time the certificate of title is issued. All State Mortgage Corporation of Florida v. Strasser, 277 So. 2d 843 (Fla. 3d DCA 1973), affirmed, 286 So. 2d 201 (Fla.1973); Roberts v. J.I. Kislak Mortgage Co., 257 So. 2d 599 (Fla. 4th DCA 1972).
Because the mortgagor deposited with the Clerk the total amount found due by the judgment of foreclosure, prior to the issuance of the certificate of title, the redemption was proper and should not have been set aside. The order of September 14, 1982, vacating the redemption is therefore set aside, and the cause is remanded to the trial court with directions to confirm the mortgagor’s redemption of his property, to order the return to the purchaser at the sale of any monies paid by it, and for such further proceedings as are consistent herewith.
REVERSED and REMANDED.
COBB and FRANK D. UPCHURCH, Jr., JJ., concur.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
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Indian River Farms v. YBF P'rs, 777 So. 2d 1096 (Fla. 4th DCA 2001)…t to the mortgagee or to the clerk of court. See Saidi 687 So. 2d at 12. A mortgagor need not obtain the trial court’s permission in order to exercise a right of redemption. See id.; Cooper Smith Props., Inc. v. Flower’s Baking Co. of Florida, Inc., 432 So. 2d 683, 684 (Fla. 5th DCA), petition for [*1100] review dismissed, 438 So. 2d 831 (Fla.1983)(a mortgagor does not need to seek permission of the court to exercise his right of redemption, which exists up to the time of the certificate of title is issued).…
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Ahmad Saidi v. Wasko, 687 So. 2d 10 (Fla. 5th DCA 1996)…f sale by the clerk of the court — was not applicable here. A mortgagor need not obtain the trial court’s permission in order to exercise a right of redemption. CCC Properties, Inc.; Cooper Smith Properties Ltd. v. Flower’s Baking Co. of Fla. Inc., 432 So. 2d 683 (Fla. 5th DCA), rev. dismissed, 438 So. 2d 831 (Fla. 1983). The mortgagor should pay the amount due by tendering it to the mortgagee or to the clerk of the court. In this case we conclude the erroneous order of the trial court prevented Saidi from s…
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Burton Engels v. Valdesuso, 497 So. 2d 698 (Fla. 3d DCA 1986)…, it could val [*700] idly redeem the property after the foreclosure sale but before the court issued the certificate of title. See Allstate Mortgage Corp. v. Strasser, 286 So. 2d 201 (Fla.1973); Cooper Smith Properties, Ltd. v. Flower’s Baking Co., 432 So. 2d 683 (Fla. 5th DCA), review dismissed, 438 So. 2d 831 (Fla.1983); § 45.031(1), Fla.Stat. (1985); cf. John Stepp, Inc., 379 So. 2d at 384 (purchaser who acquired title to property from mortgagor after court entered final judgment of foreclosure and who re…
Previewing 3 of 10 citing cases — full citator treatment, depth of discussion, and citing context are member features.
Join FLexlaw to unlock all legal intelligenceAuthorities Cited
- Allstate Mortg. Corp. OF Fla. v. Strasser, 286 So. 2d 201 (Fla. 1973)
- Allstate Mortg. Corp. OF Fla. & Inca Int'l Corp. v. Strasser, 277 So. 2d 843 (Fla. 3d DCA 1973)
- Blue Heron Land Co. v. Brown, 98 Fla. 1238 (Fla. 1930)
- Flagler Ctr. Bldg. Loan Corp. v. Chem. Realty Corp., 363 So. 2d 344 (Fla. 3d DCA 1978)
- Dock Roberts and Lorene Roberts v. J. I. Kislak Mortg. Corp. of Fla., 257 So. 2d 599 (Fla. 4th DCA 1972)