DONALD Y. BAXTER, AS TRUSTEE OF THE BLANCHARD MACHINERY, INC., PROFIT SHARING TRUST, APPELLANT,
v.
EUGENIE KOBS AND JEAN A. TROCHET, APPELLEE
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PER CURIAM.
The plaintiff mortgagee appeals the trial court order denying entry of a deficiency judgment against one of the co-makers of a promissory note. We reverse.
The granting of a deficiency judgment is the rule rather than the exception. S/D Enterprises, Inc. v. Chase Manhattan Bank, 374 So. 2d 1121 (Fla. 3d DCA 1979). Moreover, the exercise of discretion to deny a deficiency decree must be supported by disclosed equitable considerations which constitute sound and sufficient reason for the action. Hamilton Investment Trust v. Escambia Developers, Inc., 352 So. 2d 883 (Fla. 1st DCA 1977). In the present case, Trochet’s responsibility is coextensive with that of Kobs against whom the trial court entered a deficiency and we find no equitable considerations which would support the denial of a deficiency judgment. Accordingly, the judgment appealed from is reversed and remanded.
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Wilson v. Adams & Fusselle, Inc., 467 So. 2d 345 (Fla. 2d DCA 1985)…is the rule rather than the exception, a denial is proper and will not be disturbed absent a clear abuse of discretion where there are facts and circumstances that create equitable considerations supporting the trial court’s denial. Baxter v. Kobs, 451 So. 2d 955 (Fla. 3d DCA 1984); S/D Enterprises, Inc. v. Chase Manhatten Bank, 374 So. 2d 1121 (Fla. 3d DCA 1979); Hamilton Investment Trust v. Escambia Developers, Inc., 352 So. 2d 883 (Fla. 1st DCA 1977). If the value of the foreclosed property exceeds the de…
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Cmty. Bank OF Homestead v. Valois, 570 So. 2d 300 (Fla. 3d DCA 1990)…g of a deficiency judgment is the rule rather than the exception, unless there are facts and circumstances creating equitable considerations upon which a court should deny the deficiency decree in the exercise of its discretion.” See Baxter v. Kobs, 451 So. 2d 955 (Fla. 3d DCA 1984). When the fair market value of the property on the date of the foreclosure sale1 exceeds the debt owed, the court may [*304] deny a deficiency judgment. Municipal Sav. & Loan Corp. v. Fiorentino, 512 So. 2d 228 (Fla. 3d DCA 1987)…
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Chidnese v. McCOLLEM, 695 So. 2d 936 (Fla. 4th DCA 1997)…. Barnett, 53 So. 2d 641 (Fla.1951). This discretion is not unbridled, as the granting of a deficiency decree is the rule rather than the exception. S/D Enters., Inc. v. Chase Manhattan Bank, 374 So. 2d 1121, 1122 (Fla. 3d DCA 1979); Baxter v. Kobs, 451 So. 2d 955 (Fla. 3d DCA 1984). The secured party has the burden of proving that the fair market value of the property was less than the total debt determined by the final judgment. See Norwest Bank, 522 So. 2d at 547. The mortgagor may offer evidence to refute…
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- S/D Enters., Inc. v. The Chase Manhattan Bank, 374 So. 2d 1121 (Fla. 3d DCA 1979)
- Hamilton Inv. Tr. v. Escambia Developers, Inc., 352 So. 2d 883 (Fla. 1st DCA 1977)