INTERSTATE TITLE CORPORATION, A FLORIDA CORPORATION, APPELLANT,
v.
JEFFREY H. MILLER AND SUSAN L. MICELI, ALPHONSO T. MAURO, THE MONEY STORE/FLORIDA, INC., A FLORIDA CORPORATION, APPELLEES
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STONE, Judge.
The appellant has not demonstrated an abuse of discretion by the trial court’s rejecting, as trier of fact, the appellant-defendant’s claim of unclean hands and its contention that appellees were guilty of comparative negligence.
However, there was error in the computation of damages. The measure of damages for the appellant’s negligence, in failing to record the appellees’ mortgage prior to an intervening mortgage, is the resulting extent to which the appellees’ security was impaired. E.g., Goode v. Federal Title & Ins. Corp., 162 So. 2d 269 (Fla. 2d DCA 1964). The trial court computed damages on the basis of the potential loss under the appellees’ note secured by the mortgage.
Therefore, the judgment is reversed. The cause is remanded for recomputation of damages based on the value of the appellees’ lost security, that being the actual loss sustained by reason of the failure to timely record the appellees' mortgage, not to exceed the face amount of the appellees note, plus prejudgment interest.
ANSTEAD and WARNER, JJ., concur.
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Title & Reseajrch Grp., Inc. v. Dyer, 643 So. 2d 28 (Fla. 4th DCA 1994)…ellant. The record demonstrates that no proof was presented at trial that the appellees were actually damaged by their lack of knowledge of the lis pendens filed in the foreclosure action by the first mortgagee. See Interstate Title Corp. v. Miller, 581 So. 2d 213 (Fla. 4th DCA 1991); CMEI, Inc. v. American Title Ins. Co., 447 So. 2d 427 (Fla. 5th DCA 1984); Goode v. Federal Title and Ins. Corp., 162 So. 2d 269 (Fla. 2d DCA 1964). STEVENSON, J., and ANSTEAD, HARRY LEE, and MICKLE, STEPHAN P., Associate Judg…
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Nat'l Title Ins. Co. v. Safeco Title Ins. Co., 661 So. 2d 1234 (Fla. 3d DCA 1995)…et value of the mortgage, if the lien thereof were as insured, and the market value of the mortgage with the title imperfection.” Goode v. Federal Title & Ins. Corp., 162 So. 2d 269, 271 (Fla. 2d DCA 1964). See also Interstate Title Corp. v. Miller, 581 So. 2d 213 (Fla. 4th DCA 1991) (where title insurance company negligent in failing to record mortgage, mortgagee’s measure of damages is extent to which security impaired). See generally V. Woerner, Annotation, Measure, Extent, or Amount of Recovery on Policy…
Authorities Cited
- Goode v. Fed. Title & Ins. Corp., 162 So. 2d 269 (Fla. 2d DCA 1964)