Practicing law in Southwest Florida, especially in this day in age, I find myself routinely explaining the differences between a Promissory Note, Mortgage, and Deed. This week, I will briefly review each of these documents as well as their legal effect.
First, a Deed is the legal document that is used to transfer ownership of real property. In Florida, it must be written, signed, and witnessed by two individuals. Every Deed should be recorded in the public records in the county where the property is located. The recording of the Deed notifies the world that you are the owner of the property. An unrecorded deed is vulnerable to being lost or destroyed, being made invalid, or made subordinate to any future lien that may be placed against the property. Read the rest of this entry
Florida Rises to the Top: In Cases of Mortgage Fraud
With real estate prices steadily rising, the Florida real estate market has started to rebound. However, mortgage servicing experts warn that lenders should be prepared for more cases of mortgage fraud. Read the rest of this entry
FLORIDA CONSTRUCTION LIEN LAW
Florida Construction Lien Law is located in Chapter 713 of the Florida Statutes. Under these laws, a lienor has a right to enforce their lien, against real property, if the money they are owed, arose from their provision of labor, services or materials resulting in the improvement of the property. These claims are referred to as “Construction,” or “Mechanic’s Liens.” In Florida, even if the homeowner has paid the contractor in full, the homeowner could still be liable for money owed to third parties. Read the rest of this entry
Florida’s Fair Foreclosure Act: It’s only fair until it’s your home
For the third time in the last three years, our elected officials introduced a bill designed to fast-track foreclosures in the state of Florida. With robo-signing and the filing of fraudulent documents still fresh in our minds, I wonder if making things easier for the banks, the ones who created this mess, is the best way to address the real problem. Read the rest of this entry