LPP Mortgage Ltd. v. Tucker, 3D09-161.
| Court | Court of Appeal of Florida (US) |
| Writing for the Court | PER CURIAM |
| Citation | 48 So.3d 115 |
| Parties | LPP MORTGAGE LTD., f/k/a Loan Participant Partners, Ltd., etc., Appellant, v. Barbara J. TUCKER, Appellee. |
| Docket Number | No. 3D09-161.,3D09-161. |
| Decision Date | 10 November 2010 |
LPP MORTGAGE LTD., f/k/a Loan Participant Partners, Ltd., etc., Appellant,
v.
Barbara J. TUCKER, Appellee.
No. 3D09-161.
District Court of Appeal of Florida,
Third District.
Nov. 10, 2010.
Liebler, Gonzalez & Portuondo, P.A., and Dora F. Kaufman, Miami, for appellant.
Mesa & Associates, and Manuel Arthur Mesa, Miami, for appellee.
Before RAMIREZ, C.J., GERSTEN, J., and SCHWARTZ, Senior Judge.
On Motion for Rehearing
PER CURIAM.
Upon consideration, we grant appellant's motion for rehearing, withdraw our prior opinion dated June 23, 2010, and substitute the following:
LPP Mortgage LTD., etc. ("LPP") appeals an adverse final summary judgment entered in favor of Barbara J. Tucker ("Tucker"). We reverse.
The Small Business Association ("SBA") made mortgage loans to certain companies. Tucker executed guaranty agreements on the loans. Subsequently, LPP succeeded to the SBA mortgage. When the borrowers defaulted, LPP filed a foreclosure action against Tucker's property. The trial court entered final summary judgment in favor of Tucker on the ground that the statute of limitations expired before the action was filed.
On appeal, LPP asserts that the trial court erred in applying a six-year statute of limitations to this foreclosure action. On the other hand, Tucker contends that the trial court applied the correct statute of limitations. We agree with LPP.
A statute of limitations is a procedural statute that prevents the enforcement of a cause of action that has accrued. See Houck Corp. v. New River, Ltd., Pasco, 900 So.2d 601, 603 (Fla. 2d DCA 2005). An assignee of a mortgage acquires the rights and benefits which are available to the assignor. See, e.g., U.S. Nat'l Assoc. v. Taylor, 30 So.3d 530, 532 (Fla. 3d DCA 2010). This includes the benefit of the statute of limitations applicable to the assignor's foreclosure action. See UMLIC VP LLC v. Matthias, 364 F.3d 125 (3d Cir.2004); LPP Mortgage Ltd. v. Hotaling, 497 F.Supp.2d 1217 (D.Colo.2007); LLP Mortgage Ltd. v. Cravero, 851 So.2d 897 (Fla. 4th DCA 2003).
To continue reading
Request your trial
-
Navarrete v. Experian Info. Solutions, Inc., Case No: 2:16-cv-225-FtM-99MRM
...or receiver, but also to the assignees of the FDIC, as they stand in the shoes of the assignor. See LLP Mortgage Ltd. v. Tucker, 48 So. 3d 115, 116-17 (Fla. 3d DCA 2010); Caddle Co. II, Inc. v. Stamm, 633 So. 2d 45 (Fla. 1st DCA 1994) (holding that the extended statute of limitations apples......
-
JVA Enterprises, I, LLC v. Prentice, s. 4D08-4661, 4D08-5013, 4D09-1686.
...the California medical records to show that Prentice had claimed the same symptoms in 1991 and that his prior injury was such that Prentice48 So.3d 115would be susceptible to future injuries. The trial court's exclusion of this evidence substantially interfered with the appellants' ability ......