Summary Judgment Affirmed in Favor of Landlord in Dispute with Tenant
A trial court granted summary judgment in favor of Spurrier Investments, Inc. (“Landlord”) on LK Group Holding Company’s (“Tenant”) counterclaim for wrongful eviction. Tenant based the counterclaim on the fact that a default judgment of eviction previously obtained by Landlord had been reversed on appeal. The reversal was due to the trial court’s failure to […]
Standing: An Affirmative Defense to Mortgage Foreclosure
To have standing to foreclose, it must be demonstrated that the plaintiff holds the note and mortgage in question. Mazine v. M & I Bank, 67 So. 3d 1129, 1132 (Fla. 1st DCA 2011). The plaintiff must prove that it had standing to foreclose when the complaint was filed. McLean v. JP Morgan Chase Bank […]
Local Real Estate Investors Compete with Large Investment Firms
Although investment firms are buying many of the distressed properties in South Florida, (see our article https://floridarealestate.law/investors-purchasing-distressed-florida-properties/) local real estate investors are still trying to flip homes. Despite the tough competition, local real estate investors are hoping to find discounted homes, fix them up, and sell them at an increased price. Distressed properties are offered […]
A Breach of a Fiduciary Duty Claim May be Waived
A dispute arose between Band and Libby regarding the development and construction of a luxury condominium. Band, the managing general partner of the development and an attorney, contacted Libby to invite him to become an investor. Band and his former law firm had previously represented Libby on numerous matters. Libby made an initial investment of […]
Agencies Issue Updated Leveraged Lending Guidance
Federal bank regulatory agencies released updated supervisory guidance on leveraged lending. The guidance covers transactions characterized by a borrower with financial leverage that significantly exceeds industry norms. The guidance focuses attention on key areas that include: establishing a sound risk-management framework; underwriting standards; valuation standards; pipeline management; reporting and analytics; risk rating leveraged loans; participants; […]
Essential Provisions in a Construction Contract
Construction contracts are very complex. If not negotiated and drafted with superior skill, disputes will develop. A construction contract should provide detailed information regarding every aspect of the construction. Involving an experienced attorney in formulating a construction contract at the beginning may help prevent future headaches. Here are a few essential provisions that should be […]
Relief from Judgment under Florida Rule of Civil Procedure 1.540
Florida Rule of Civil Procedure 1.500(b) provides that “[w]hen a party against whom affirmative relief is sought has failed to plead or otherwise defend as provided by these rules or any applicable statute or any order of court, the court may enter a default against such party.” In Yale Mortgage Corporation v. Blot, 3D12-1894 (Fla. […]
Jumbo Mortgages Boost Luxury Home Sales
According to the National Association of Realtors, sales of properties worth over $750,000 have considerably increased in the past year. Reuters reports that the recovery in the luxury real estate market is likely attributed to jumbo mortgages. A jumbo mortgage is riskier for lenders because a luxury residence is harder to sell in the event […]
Good and Marketable Title in Real Property Contracts
A seller has an implied obligation to convey a good and marketable title in an agreement for the sale of real property unless there is a provision stating otherwise. A good and marketable title is one that is free from encumbrances. An encumbrance is any right or interest in land held by someone other than […]
Re-weighing Evidence on Appeal
In Demida Miami Gardens, LLC v. Master Excavators, Inc., the appellants, Demida Miami Gardens, LLC and David Paul appealed a final judgment in the amount of $933,617.43 which was a result of an action to enforce a personal guarantee provided to Master Excavators by Paul. On appeal, two arguments were asserted: one, that the guarantee […]
