Florida Senate - 2010                                    SB 1384
       
       
       
       By Senator Hill
       
       
       
       
       1-01464-10                                            20101384__
    1                        A bill to be entitled                      
    2         An act relating to mortgage foreclosure actions on
    3         homestead property; amending s. 702.06, F.S.;
    4         prohibiting deficiency decrees in final judgments in
    5         foreclosure actions on homestead property; specifying
    6         such deficiency decrees as unenforceable; providing an
    7         effective date.
    8  
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Section 702.06, Florida Statutes, is amended to
   12  read:
   13         702.06 Deficiency decree; common-law suit to recover
   14  deficiency.—
   15         (1) In all suits for the foreclosure of mortgages
   16  heretofore or hereafter executed, the entry of a deficiency
   17  decree for any portion of a deficiency, should one exist, shall
   18  be within the sound judicial discretion of the court, but the
   19  complainant shall also have the right to sue at common law to
   20  recover such deficiency, provided no suit at law to recover such
   21  deficiency shall be maintained against the original mortgagor in
   22  cases where the mortgage is for the purchase price of the
   23  property involved and where the original mortgagee becomes the
   24  purchaser thereof at foreclosure sale and also is granted a
   25  deficiency decree against the original mortgagor.
   26         (2) Notwithstanding this section or any other provision of
   27  this chapter or the laws of this state, a final judgment in any
   28  suit for the foreclosure of a mortgage executed on homestead
   29  property may not contain, and the court may not enter, a
   30  deficiency decree for any portion of any deficiency in such
   31  mortgage. If a final judgment in such suit contains a deficiency
   32  decree, the deficiency decree is unenforceable as against public
   33  policy.
   34         Section 2. This act shall take effect July 1, 2010.