BRICKELL CONSTRUCTION CORP., A FLORIDA CORPORATION, APPELLANT,
v.
FRANCISCO PUJOL ET AL., APPELLEES
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Florida appellate court affirmed the appointment of a receiver in a mortgage foreclosure action, rejecting the defendant's arguments that a trust cannot sue and that no emergency justified the receivership.
A trust holding a promissory note and mortgage may maintain a foreclosure action through its trustees, and a receiver may be appointed pendente lite pursuant to mortgage terms without requiring an emergency or clean hands doctrine.
[1] A trust holding a promissory note and mortgage may maintain a foreclosure action through its trustees without requiring the trust to be a separate legal entity.
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Join FLexlaw to unlock all legal intelligenceBrickell Construction Corporation obtained financing from TMC Mortgage Investors in August 1972 for a 200-unit condominium development called Golden G…
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PER CURIAM.
This is an interlocutory appeal seeking reversal of an order appointing a receiver in a mortgage foreclosure action.
Appellant-defendant, Brickell Construction Corporation, on August 10, 1972 obtained financing from TMC Mortgage Investors, a Massachusetts business trust, for the development of a 200 unit condominium complex known as Golden Gate. In May 1975 the defendant corporation defaulted in its payments and plaintiffs, as trustees of TMC, filed suit seeking to foreclose the mortgage and to recover damages. In addition, plaintiffs prayed for the appointment of a receiver pendente lite to which they alleged they were entitled pursuant to the terms of the mortgage. The trial court, after hearing, appointed a receiver over all the real and personal property of the Golden Gate Condominium development. Defendant Brickell Construction Corporation appeals.
Defendant first argues that the trial court committed reversible error in permitting plaintiffs to maintain this suit in that a trust is not a legal entity and, therefore, no one can sue on behalf of a name.
The record clearly reflects that TMC Mortgage Investors is the holder of the promissory note and mortgage and plaintiffs, as trustees of TMC, are entitled to maintain this action on its behalf. See Boyd v. Boulevard National Bank, Fla.App.1975, 306 So. 2d 551; Your Construction Center, Inc. v. Gross, Fla.App.1975, 316 So. 2d 596.
We also considered defendant’s second contention that the trial court erred in appointing a receiver where the plaintiffs did not have clean hands and where no emergency existed, and conclude it contains no merit.
Affirmed.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
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Brickell Constr. Co. v. Hartman, 332 So. 2d 119 (Fla. 3d DCA 1976)…PER CURIAM. Affirmed. See Your Construction Center, Inc. v. Gross, Fla.App.1975, 316 So. 2d 596 and Brickell Construction Corp. v. Pujol, Fla.App.3d 1976, 329 So. 2d 340.…
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Corcoran v. Brody, 347 So. 2d 689 (Fla. 4th DCA 1977)…tive capacity to foreclose a note and mortgage payable solely to that trustee. A vague effort was made in Gross to distinguish the Willey case. Following the Gross case the Third District Court of Appeal decided Brickell Construction Corp. v. Pujol, 329 So. 2d 340 (Fla. 3d DCA 1976), holding that the trustees of the mortgagee business trust could maintain a suit to foreclose a mortgage payable to TMC Mortgage Investors, a Massachusetts business trust. The defendant there contended: “that the trial court comm…
Authorities Cited
- Boyd v. Boulevard Nat'l Bank, 306 So. 2d 551 (Fla. 3d DCA 1975)
- Your Constr. Ctr., Inc. v. Gross, 316 So. 2d 596 (Fla. 4th DCA 1975)