Real Property, Financial Services, & Title Insurance Update: Week Ending January 28, 2022

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Real Property Update

  • Promissory Note / Statute of Limitations: Trial court's conclusion that the maturity date of the debt (pursuant to a promissory note, not a mortgage lien) could only be extended via a written and recorded agreement conflicted with section 95.051(1)(f), Florida Statutes, which provides that the limitation period is tolled for five years from "[t]he payment of any part of the principal or interest of any obligation or liability founded on a written instrument" - Shanks, v. Bergerman, No. 2D20-3431 (Fla. 2d DCA Jan. 28, 2022) (reversed and remanded)
  • Partition: Trial court was not authorized to award money damages in an action in which only partition was sought and the partition sale resulted in zero proceeds - Morrison v. Smolarick, No. 2D20-2693 (Fla. 2d DCA Jan. 28, 2022) (reversed and remanded)

Financial Services Update

No cases of interest to report.

Title Insurance Update

No cases of interest to report.

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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