Saidi v. Wasko
| Decision Date | 15 November 1996 |
| Docket Number | No. 96-551,96-551 |
| Citation | 687 So.2d 10 |
| Parties | 21 Fla. L. Weekly D2457 Ahmad SAIDI, Appellant, v. Stanley J. WASKO and Eugene W. Wasko, et al., Appellees. |
| Court | Florida District Court of Appeals |
Barbara A. Eagan of Arnold, Matheny & Eagan, P.A., Orlando, for Appellant.
Julia R. Law of Roberts & Law, P.A., Groveland, for Appellees.
Saidi appeals from an order which dismissed his objections to a judicial sale of his foreclosed property, and which denied his motion to exercise his right of redemption. The trial court relied upon Emanuel v. Bankers Trust Co., 655 So.2d 247 (Fla. 3d DCA 1995), rev. denied, 663 So.2d 629 (1995). We reverse because we find that Saidi timely sought to exercise his right of redemption and was prevented from doing so by the trial court's order. Emanuel is not controlling because in this case, the final judgment of foreclosure contained a paragraph which set a time for exercise of the right to redeem, which was later than the filing of the certificate of sale.
The record establishes that on October 31, 1995, the trial court rendered a final judgment of foreclosure in favor of the Waskos for $97,166.60. The judgment provided that if this amount was not paid, the property would be sold at a judicial sale on December 5, 1995. Saidi sought to have the judicial sale postponed to allow him time to marshal funds to pay the judgment. He was unsuccessful.
The property was sold on December 5, 1995, to the Waskos, and a certificate of sale was filed, that same day. Thereafter, on December 13, 1995, Saidi filed an objection to the sale, and a motion to exercise his right of redemption. On February 9, 1996, the court ruled there were no irregularities in the sale process, and it expressly denied Saidi's motion to redeem on the ground that it came too late. The certificate of title was filed on February 12, 1995.
The right of redemption is a valued and protected equitable right of the mortgagor to reclaim his estate in foreclosed property after it has been forfeited, at law, by paying the amount of the debt, interest and costs. CCC Properties Inc. v. Kane, 582 So.2d 159 (Fla. 4th DCA 1991). Former section 45.031 and current section 45.0315, which govern the right of redemption are in derogation of common law, and should be strictly construed. Allstate Mortgage Corp. of Fla. v. Strasser, 277 So.2d 843 (Fla. 3d DCA), affirmed, 286 So.2d 201 (Fla.1973).
Pursuant to former section 45.031, a mortgagor could exercise the right of redemption any time before the issuance of the certificate of title. Current section 45.0315 provides:
At any time before the later of the filing of a certificate of sale by the clerk of the court or the time specified in the judgment, order, or decree of foreclosure, the mortgagor or the holder of any subordinate interest may cure the mortgagor's indebtedness and prevent a foreclosure sale by paying the amount of moneys specified in the judgment, order, or decree of foreclosure ... (emphasis supplied).
This section empowers a court to fix a time in the final judgment, before which the mortgagor must exercise his right of redemption or forfeit that right. If the judgment makes no such provision the right to redeem expires when the clerk files the certificate of sale. Bennett v. Ward, 667 So.2d 378 (Fla. 1st DCA 1995); Emanuel.
In this case, the final judgment of foreclosure contained paragraph eight, which provided:
On filing the certificate of title Defendants and all persons claiming under or against Defendants since the filing of the notice of lis pendens shall be foreclosed of all estate or claim in the property and the purchaser at the sale shall be let into possession of the property.
These provisions, purporting to cut off the mortgagor's estate upon the filing of the certificate of title, appear to refer to the right of redemption.
A mortgagor's equity of redemption is considered to be an estate in land. John Stepp v. First Federal Savings and Loan Ass'n. of Miami, 379 So.2d 384 (Fla. 4th DCA 1980); Hoffman v....
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Sudhoff v. Federal Nat. Mortg. Ass'n, 5D05-3137.
...to reclaim her estate in foreclosed property. Deluxe Motel, Inc. v. Patel, 770 So.2d 283, 284 (Fla. 5th DCA 2000); Saidi v. Wasko, 687 So.2d 10, 11 (Fla. 5th DCA 1996); see Action Realty & Invs., Inc. v. Grandison, 930 So.2d 674, 676 (Fla. 4th DCA 2006); Indian River Farms v. YBF Partners, ......
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Sudhoff v. Federal National Mortgage Association, Case No. 5D05-3137 (Fla. App. 7/28/2006)
...to reclaim her estate in foreclosed property. Deluxe Motel, Inc. v. Patel, 770 So. 2d 283, 284 (Fla. 5th DCA 2000); Saidi v. Wasko, 687 So. 2d 10, 11 (Fla. 5th DCA 1996); Action Realty & Invs., Inc. v. Grandison, 31 Fla. L. Weekly D786 (Fla. 4th DCA Mar. 15, 2006); Indian River Farms v. YBF......
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...Realty & Mortgage, Inc., 287 So.2d 352 (Fla. 3d DCA 1974); Subsaro v. Van Heusden, 191 So.2d 569 (Fla. 3d DCA 1966). 8. Saidi v. Wasko, 687 So.2d 10 (Fla. 5th DCA 1996); Emanuel v. Bankers Trust Co., 655 So.2d 247 (Fla. 3d DCA 1995). 9. § 45.0315, Fla. Stat. See Cueto v. Manufacturers & Tra......
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Indian River Farms v. YBF PARTNERS
...in foreclosed property after it has been forfeited, at law, by paying the amount of the debt, interest and costs. See Saidi v. Wasko, 687 So.2d 10, 11 (Fla. 5th DCA 1996); CCC Props., Inc. v. Kane, 582 So.2d 159 (Fla. 4th DCA 1991). Section 45.0315, Florida Statutes (1995), governs the righ......
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Chapter 10-2 Third-Party Purchasers
...4th DCA 2005)).[35] AG Group Investments, LLC v. All Realty Alliance Corp., 106 So. 3d 950, 951-52 (Fla. 3d DCA 2013); Saidi v. Wasko, 687 So. 2d 10, 11 (Fla. 5th DCA 1996); Burns v. Bankamerica Nat. Trust Co., 719 So. 2d 999, 1001 (Fla. 5th DCA 1998) (citing Riley v. Grissett, 556 So. 2d 4......
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Chapter 10-2 Third-Party Purchasers
...4th DCA 2005)).[35] AG Group Investments, LLC v. All Realty Alliance Corp., 106 So. 3d 950, 951-52 (Fla. 3d DCA 2013); Saidi v. Wasko, 687 So. 2d 10, 11 (Fla. 5th DCA 1996); Burns v. Bankamerica Nat. Trust Co., 719 So. 2d 999, 1001 (Fla. 5th DCA 1998) (citing Riley v. Grissett, 556 So. 2d 4......
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Business & commercial cases
...approval is not required to redeem. Indian River Farms v. YBF Partners , 777 So. 2d 1096, 1099 (Fla. 4th DCA 2001); Saidi v. Wasko , 687 So. 2d 10, 12 (Fla. 5th DCA 1996). The right to redeem is incident to every mortgage and can be assigned by anyone claiming under him. VOSR Indus., Inc. v......
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Chapter 15-2 Overview of Right of Redemption
...property to the owner.17--------Notes:[5] Stovall v. Stokes, 94 Fla. 717 (Fla. 1927); § 45.0315, Fla. Stat. (2020).[6] Saidi v. Wasko, 687 So. 2d 10, 11 (Fla. 5th DCA 1996); citing CCC Properties Inc. v. Kanie, 582 So. 2d 159 (Fla. 4th DCA 1991); John Stepp, Inc. v. First Fed. Sav. and Loan......