HB 35

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


CODING: Words stricken are deletions; words underlined are additions.