Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 998
       
       
       
       
       
       
                                Barcode 117020                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/01/2009           .                                
                                       .                                
                                       .                                
                                       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       The Committee on Regulated Industries (Deutch) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 415 - 454
    4  and insert:
    5         Section 5. Paragraph (b) of subsection (1), paragraph (b)of
    6  subsection (5), paragraph (b) of subsection (6), and paragraph
    7  (c) of subsection (8) of section 718.116, Florida Statutes, is
    8  amended to read:
    9         718.116 Assessments; liability; lien and priority;
   10  interest; collection.—
   11         (1)
   12         (b) The liability of a first mortgagee or its successor or
   13  assignees who acquire title to a unit by foreclosure or by
   14  recorded deed in lieu of foreclosure for the unpaid assessments
   15  that became due prior to the mortgagee’s acquisition of title is
   16  limited to the lesser of:
   17         1. The unit’s unpaid common expenses and regular periodic
   18  assessments which accrued or came due during the 6 months
   19  immediately preceding the acquisition of title and for which
   20  payment in full has not been received by the association; or
   21         2. One percent of the original mortgage debt. The
   22  provisions of this paragraph apply only if the first mortgagee
   23  joined the association as a defendant in the foreclosure action.
   24  Joinder of the association is not required if, on the date the
   25  complaint is filed, the association was dissolved or did not
   26  maintain an office or agent for service of process at a location
   27  which was known to or reasonably discoverable by the mortgagee.
   28         3. If a first mortgagee or its successor or assignees has
   29  not acquired title to an owner-occupied unit year after a
   30  foreclosure action is filed, the first mortgagee or its
   31  successor or assignees shall pay to the association the lesser
   32  of the unit’s unpaid common expenses and regular periodic
   33  assessments which accrued or came due during the immediately
   34  preceding 6 months or one percent of the original mortgage debt.
   35  The liability of the first mortgagee or its successor or
   36  assignees for all unpaid assessments when title to a unit is
   37  acquired by foreclosure or by recorded deed in lieu of
   38  foreclosure is limited to the payment required under this
   39  subparagraph.
   40  
   41  ================= T I T L E  A M E N D M E N T ================
   42         And the title is amended as follows:
   43         Delete lines 31 - 32
   44  and insert:
   45  assessments; limiting the amount of costs to a unit