GLENDALE FEDERAL SAVINGS AND LOAN ASSOCIATION, APPELLANT,
v.
ANTHONY J. GUADAGNINO AND ROSANNA M. GUADAGNINO, HIS WIFE, ET AL., APPELLEES
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A junior mortgagee's right to redeem in a foreclosure action is determined by the entry of the final judgment and attempts to redeem after the certificate of title is issued are untimely.
A senior mortgagee foreclosed on a property, and the junior mortgagee filed a motion to redeem after the property was sold but before the certificate …
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BERANEK, Judge.
This appeal involves a junior mortgagee’s right to redeem in a foreclosure action. Glendale Federal Savings and Loan Association (senior mortgagee) instituted foreclosure proceedings against the Guadagninos (mortgagors), Merrill Bookstein (junior mortgagee), and others. Final summary judgment was entered in favor of Glendale Federal Savings and Loan Association. The property was then sold to Glendale who was the highest bidder at the foreclosure sale. Bookstein did not attend the sale or bid on the property.
Subsequent to the sale, but prior to the issuance of the certificate of title, Bookstein filed a motion to redeem. The trial court did not consider the motion until after the certificate of title was issued to the bank, and the motion was granted. The bank appeals, alleging this was error. It is well established that as a junior mortgagee, Bookstein had a right to redeem. That right is distinguishable from the mortgagor’s right to redeem in that it refers to his right to satisfy a prior mortgage by payment of the debt it secures. The junior mortgagee then becomes equitably subrogated to all rights of the senior mortgagee. However, a junior mortgagee who is made a party to a foreclosure action brought by a senior mortgagee has his rights determined by the entry of the final judgment. Shipp Corporation, Inc. v. Charpilloz, 414 So. 2d 1122 (Fla. 2d DCA 1982).
We conclude that Bookstein’s attempts to redeem were untimely and we reverse the decision of the lower court with instructions to reinstate the certificate of title to Glendale Federal Savings and Loan Association,
REVERSED AND REMANDED.
ANSTEAD, C.J., and GLICKSTEIN, J., concur.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
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The Islamorada Bank v. Rodriguez, 452 So. 2d 61 (Fla. 3d DCA 1984)…the debt it secures and thereby become equitably subrogated to all rights of the prior mortgagee, (citation omitted) Shipp Corp. v. Charpilloz, 414 So. 2d 1122, 1123 (Fla. 2d DCA 1982). Accord Glendale Federal Savings and Loan Ass’n v. Guadagnino, 434 So. 2d 54 (Fla. 4th DCA 1983). The junior mortgagee’s right of redemption applies to the rights of the senior mortgagees and not to the underlying real property. Shipp. It is apparent, therefore, that the court below improperly allowed Rodriguez, an assignee…
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Emmett Abdoney v. Janetta York with rights to manage, 903 So. 2d 981 (Fla. 2d DCA 2005)…, Inc. v. Charpilloz, 414 So. 2d 1122, 1123 (Fla. 2d DCA 1982); Credithrift, Inc. v. Knowles, 556 So. 2d 775, 777 (Fla. 1st DCA 1990); Islamorada Bank v. Rodriguez, 452 So. 2d 61, 63 (Fla. 3d DCA 1984); Glendale Fed. Sav. & Loan Ass’n v. Guadagnino, 434 So. 2d 54, 54 (Fla. 4th DCA 1983). In 1993, the legislature enacted section 45.0315, Florida Statutes, which lengthened the time for redemption by a junior mortgagee to “any time before the later of the filing of a certificate of sale by the clerk of the cour…
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Burton Engels v. Valdesuso, 497 So. 2d 698 (Fla. 3d DCA 1986)…her contest the foreclosure proceedings or the sale, or attempt to pay off the senior mortgagee and take a subrogated position. See Islamorada Bank v. Rodriguez, 452 So. 2d 61 (Fla. 3d DCA 1984); Glendale Federal Savings & Loan Ass’n v. Giladagnino, 434 So. 2d 54 (Fla. 4th DCA 1983); Shipp Corp. v. Charpilloz, 414 So. 2d 1122 (Fla. 2d DCA 1982). In response, Valdesuso correctly points out that the right of redemption which it exercised was the right of redemption it acquired from the mortgagors, the del Pozz…
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- Shipp Corp., Inc. v. Charpilloz, 414 So. 2d 1122 (Fla. 2d DCA 1982)