Every so often, we might not realize that, by our actions, we are doing exactly what the opposing party wants us to do. Perhaps we do not have an appropriate amount of time for each and every decision to consider ‘the forest’ for the ‘trees’ or in this case, we might assume that our aggression will make the opposing party feel the ‘thorns’ of justice. With this in mind, here are a few points that judgment creditors should consider in Florida before they decide to throw ‘Burr’ rabbit into the proverbial ‘briar patch.’
A) Hopping Over a Junior Lien Holder -
A day before the foreclosure sale, a third party purchases a final judgment of foreclosure (“Foreclosure Judgment”) from a senior lien holder that filed the foreclosure lawsuit. Pursuant to equitable subrogation, the third party obtains all rights, interests and claims of the senior lien holder. The Foreclosure Judgment purchased by the third party extinguishes any claims of all junior lien holders, right? Wrong.
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Topics: Creditors, Equitable Subrogation, Foreclosure, Lienholders, Liens, Tax Certificates, Third-Party Defendants
Published In: Civil Procedure Updates, General Business Updates, Finance & Banking Updates, Residential Real Estate Updates, Tax Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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