Foreclosure: debtor that agreed to
"surrender" property in bankruptcy was required to
surrender the property to the bankruptcy trustee and secured
creditor, and lost right to defend secured creditor's
foreclosure action pending in state court - Failla v Citibank, N.A., Case No. 15-15626 (11
Cir. Oct. 4, 2016) (affirmed)
lacked standing to sue lender for violating statute that required
timely recording of satisfaction of mortgage where satisfaction was
recorded before borrower filed suit and borrower failed to allege
he had suffered damages as a result of the delay - Nicklaw v Citimortgage, Inc., Case No.
15-14216 (11 Cir. Oct. 6, 2016) (appeal dismissed for lack of
Limitation on Condo Assessments: holder of note and
mortgage, who was not also owner, having foreclosed mortgage on
property and purchased it at foreclosure sale, is entitled to the
safe harbor limitation of liability on condominium assessments
applicable to first mortgagees under section 718.116, Fla. Stat. -
Brittany's Place Condominium Assoc., Inc. v
U.S. Bank, N.A., Case No. 2D15-3444 (Fla. 2d DCA Oct. 5, 2016)
TITLE INSURANCE UPDATE
Timely Notice: where
lender named in prior lienholder's foreclosure action did not
give notice to insurer because it did not know that the
subordination prior lender's lien had not been recorded, a
question of fact as to whether subsequent notice to insurer was
timely precluded dismissal of action –Greentree Servicing, LLC v. Chicago Title Ins.
Co., Case No. ED103906 (Mo. App. Oct. 4, 2016) (reversing order
dismissing two counts of complaint)
Attorney Fees: under
Commonwealth law, insured is entitled to costs and fees for
successfully establishing title insurer's breach of the duty to
defend – CH Properties, Inc. v. First American Title Ins.
Co., Case No. 13-1354 (D. Puerto Rico Oct. 4, 2016) (memorandum
and order granting entitlement to fees)
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A trend, and now common practice, in the construction industry is for an owner or contractor to require contractors and subcontractors to name it as an additional insured on their commercial general liability insurance policies.
Foreclosure/Deficiency Judgment: where a foreclosing bank acquires in rem jurisdiction via service by publication in underlying foreclosure action, bank may still seek personal service over an individual to pursue deficiency judgment.
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