Bill Text: FL S1384 | 2010 | Regular Session | Introduced

Florida Senate Bill 1384 (Prior Session Legislation)

Introduced

Bill Title: Mortgage Foreclosure Actions on Homestead Property [CPSC]

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2010-04-30 - Died in Committee on Banking and Insurance [S1384 Detail]

Download: Florida-2010-S1384-Introduced.html

 
Florida Senate - 2010                                    SB 1384 
 
By Senator Hill 
1-01464-10                                            20101384__ 
1                        A bill to be entitled 
2         An act relating to mortgage foreclosure actions on 
3         homestead property; amending s. 702.06, F.S.; 
4         prohibiting deficiency decrees in final judgments in 
5         foreclosure actions on homestead property; specifying 
6         such deficiency decrees as unenforceable; providing an 
7         effective date. 
8 
9  Be It Enacted by the Legislature of the State of Florida: 
10 
11         Section 1. Section 702.06, Florida Statutes, is amended to 
12  read: 
13         702.06 Deficiency decree; common-law suit to recover 
14  deficiency.— 
15         (1) In all suits for the foreclosure of mortgages 
16  heretofore or hereafter executed, the entry of a deficiency 
17  decree for any portion of a deficiency, should one exist, shall 
18  be within the sound judicial discretion of the court, but the 
19  complainant shall also have the right to sue at common law to 
20  recover such deficiency, provided no suit at law to recover such 
21  deficiency shall be maintained against the original mortgagor in 
22  cases where the mortgage is for the purchase price of the 
23  property involved and where the original mortgagee becomes the 
24  purchaser thereof at foreclosure sale and also is granted a 
25  deficiency decree against the original mortgagor. 
26         (2) Notwithstanding this section or any other provision of 
27  this chapter or the laws of this state, a final judgment in any 
28  suit for the foreclosure of a mortgage executed on homestead 
29  property may not contain, and the court may not enter, a 
30  deficiency decree for any portion of any deficiency in such 
31  mortgage. If a final judgment in such suit contains a deficiency 
32  decree, the deficiency decree is unenforceable as against public 
33  policy. 
34         Section 2. This act shall take effect July 1, 2010.