CS/CS/HB 1523

1	A bill to be entitled
2	An act relating to homeowner relief; creating parts I, II,
3	III, IV, V, VI, VII, and VIII of chapter 52, F.S.;
4	providing general provisions for an alternative method of
5	foreclosures other than under the judicial system;
6	providing a short title; providing for scope of
7	applicability; providing definitions; providing for
8	variation by agreement; providing for application of
9	supplemental principles of law and equity; providing
10	criteria for notice and knowledge; providing for
11	transactions creating a security interest; providing for
12	time of foreclosure; providing procedures, requirements,
13	and limitations before foreclosure; specifying a right to
14	foreclose; requiring a notice of default; providing a
15	right to cure; providing requirements for a notice of
16	foreclosure; providing for a meeting and meeting
17	requirements to object to foreclosure; providing a period
18	of limitation for foreclosure; providing for judicial
19	supervision of foreclosure; providing procedures and
20	limitations for foreclosures brought under the judicial
21	system; exempting homestead debtors from certain filing
22	fees under certain circumstances; providing for a right to
23	redeem collateral; providing authority, requirements,
24	procedures, and limitations on foreclosures by auction,
25	foreclosures by negotiated sale, and foreclosures by
26	appraisal; providing for rights after foreclosure;
27	providing for application of proceeds, transfer of title,
28	actions for damages or to set aside a foreclosure,
29	possession after foreclosure, judgments for deficiencies,
30	and determinations of amounts of a deficiency; providing
31	for effect of good faith by a debtor; providing
32	application and construction; providing authority,
33	requirements, procedures, and limitations on
34	discontinuation of a foreclosure; providing for uniformity
35	of application and construction; specifying a relation to
36	the Electronic Signatures in Global and National Commerce
37	Act; providing criteria for calculating documentary stamp
38	taxes for certain purposes; amending s. 702.01, F.S.;
39	revising requirements for mortgage foreclosures in equity;
40	providing construction; providing an effective date.
41
42	WHEREAS, Florida is still recovering from the worst housing
43	bubble in memory, and
44	WHEREAS, many Floridians are left unable to pay their
45	mortgage debt, taxes, or insurance and fees and face the
46	prospect of huge deficiency judgments, that is, they are liable
47	for mortgage debt that exceeds the value of their homes, and
48	WHEREAS, many homeowner and condominium associations are
49	struggling to maintain common areas because owners are not
50	paying dues and assessments, and
51	WHEREAS, municipalities, counties, and school districts are
52	struggling to pay for the valuable services they provide because
53	so many homeowners are not paying real estate taxes owed, and
54	WHEREAS, Florida's courts are overburdened with foreclosure
55	cases, with nearly 500,000 backlogged cases as of December 31,
56	2009, and expected delays of 18-24 month periods before
57	foreclosure cases are resolved, and
58	WHERE, local community banks are unable to make new loans
59	to small businesses to create new jobs because their capital is
60	tied up in defaulted real estate mortgages that are bogged down
61	in the courts, and
62	WHEREAS, Florida's economy will not bottom out, and
63	sustained recovery cannot begin, until real estate supply and
64	demand balance and homeowner debt issues are resolved, NOW,
65	THEREFORE,
66
67	Be It Enacted by the Legislature of the State of Florida:
68
69	Section 1.  Part I of chapter 52, Florida Statutes,
70	consisting of sections 52.101, 52.102, 52.103, 52.104, 52.105,
71	52.106, 52.107, and 52.108, is created to read:
72	PART I
73	GENERAL PROVISIONS
74	52.101  Short title; scope of applicability.-
75	(1)  This chapter may be cited as the "Homeowner Relief and
76	Housing Recovery Act."
77	(2)  In lieu of any other foreclosure remedy which may be
78	available under the laws of this state under the judicial
79	system, this chapter may, at the option of the foreclosing
80	creditor, be used to effect a foreclosure of a security
81	instrument. However, if the foreclosing creditor does not elect
82	to use this chapter to effect a foreclosure, nothing in this
83	chapter is intended to modify any other foreclosure remedy
84	available under the laws of this state.
85	52.102  Definitions.-For purposes of this chapter:
86	(1)  "Collateral" means property, real or personal, subject
87	to a security interest.
88	(2)  "Common interest community" means real property for
89	which a person is obligated to pay real property taxes,
90	insurance premiums, maintenance, or improvement of other real
91	property described in a declaration or other governing
92	documents, however denominated, by virtue of the community's or
93	association's ownership thereof or the holding of a leasehold
94	interest of at least 20 years, including renewal options
95	therein. The term "common interest community" includes a
96	community governed by one or more condominium associations as
97	defined in s. 718.103, by a cooperative association as defined
98	in s. 719.103, or by a homeowners' association as defined in s.
99	720.301.
100	(3)  "Day" means a calendar day.
101	(4)  "Debtor" means a person that owes payment or other
102	performance of an obligation, whether absolute or conditional,
103	primary or secondary, secured under a security instrument,
104	whether or not the security instrument imposes personal
105	liability on the debtor. The term does not include a person
106	whose sole interest in the property is a security interest.
107	(5)  "Evidence of title" means a title insurance policy, a
108	preliminary title report or binder, a title insurance
109	commitment, an attorney's opinion of title based on an
110	examination of the public records or an abstract, or any other
111	means of reporting the state of title to real estate that is
112	customary in the locality.
113	(6)  "Expenses of foreclosure" means the lesser of the
114	reasonable costs incurred by a secured creditor or the maximum
115	amounts permitted by any other laws of this state in connection
116	with a foreclosure for transmission of notices, advertising,
117	evidence of title, inspections and examinations of the
118	collateral, management and securing of the collateral, liability
119	insurance, filing and recording fees, attorneys' fees and
120	litigation expenses incurred pursuant to ss. 52.207 and 52.601
121	to the extent provided in the security instrument or authorized
122	by law, appraisal fees, the fee of the person conducting the
123	sale in the case of a foreclosure by auction, fees of court-
124	appointed receivers, and other expenses reasonably necessary to
125	the foreclosure.
126	(7)  "Foreclosing creditor" means a secured creditor who is
127	engaged in a foreclosure under this chapter.
128	(8)  "Guarantor" means a person liable for the debt of
129	another, and includes a surety and an accommodation party.
130	(9)  "Interest holder" means a person who owns a legally
131	recognized interest in real or personal property that is
132	subordinate in priority to a security interest foreclosed under
133	this chapter.
134	(10)  "Original notice of foreclosure" means the first
135	notice of foreclosure sent pursuant to s. 52.204 instituting a
136	foreclosure under this chapter.
137	(11)  "Purchase-money obligation" means an obligation
138	incurred in order to pay part or all of the purchase price of
139	residential real property collateral. An obligation is not a
140	purchase-money obligation if any part of the real property
141	securing it is not residential real property. A purchase-money
142	obligation includes an obligation:
143	(a)  Incurred to the vendor of the real property;
144	(b)  Owed to a third-party lender to pay a loan made to pay
145	part or all of the purchase price of the real property;
146	(c)  Incurred to purchase labor and materials for the
147	construction of substantial improvements on the real property;
148	or
149	(d)  To pay a loan all of the proceeds of which were used
150	to repay in full an obligation of the type described in
151	paragraphs (a)-(c).
152	(12)  "Real property" means any estate or interest in,
153	over, or under land, including minerals, structures, fixtures,
154	and other things that by custom, usage, or law pass with a
155	conveyance of land though not described or mentioned in the
156	contract of sale or instrument of conveyance. The term includes
157	the interest of a landlord or tenant and, unless under the law
158	of the state in which the property is located that interest is
159	personal property, an interest in a common interest community.
160	(13)  "Record" when used as a verb, means to take the
161	actions necessary to perfect an interest in real property under
162	the laws of this state.
163	(14)  "Record" used as a noun, means information that is
164	inscribed on a tangible medium or that is stored in an
165	electronic or other medium and is retrievable in perceivable
166	form.
167	(15)  "Residential" means:
168	(a)  As applied to an interest holder, an individual who
169	holds a possessory interest, other than a leasehold interest
170	with a duration of 1 year or less, in residential real property
171	in which a security interest exists, and any person that is
172	wholly owned and controlled by such an individual or
173	individuals.
174	(b)  As applied to a debtor, an individual who is
175	obligated, primarily or secondarily, on an obligation secured in
176	whole or in part by residential real property, and any person
177	that is wholly owned and controlled by such an individual or
178	individuals.
179	(16)  "Residential real property" means real property that,
180	when a security instrument is entered into, is used or is
181	intended by its owner to be used primarily for the personal,
182	family, or household purposes of its owner and is improved, or
183	is intended by its owner to be improved, by one to four dwelling
184	units.
185	(17)  "Secured creditor" means a creditor that has the
186	right to foreclose a security interest in real property under
187	this chapter.
188	(18)  "Security instrument" means a mortgage, deed of
189	trust, security deed, contract for deed, agreement for deed,
190	land sale contract, lease creating a security interest, or other
191	contract or conveyance that creates or provides for an interest
192	in real property to secure payment or performance of an
193	obligation, whether by acquisition or retention of a lien, a
194	lessor's interest under a lease, or title to the real property.
195	A security instrument may also create a security interest in
196	personal property. If a security instrument makes a default
197	under any other agreement a default under the security
198	instrument, the security instrument includes the other
199	agreement. The term includes any modification or amendment of a
200	security instrument, and includes a lien on real property
201	created by a record to secure an obligation owed by an owner of
202	the real property to an association in a common interest
203	community or under covenants running with the real property.
204	(19)  "Security interest" means an interest in real or
205	personal property that secures payment or performance of an
206	obligation.
207	(20)  "Sign" means:
208	(a)  Execute or adopt a tangible symbol with the present
209	intent to authenticate a record; or
210	(b)  Attach or logically associate an electronic symbol,
211	sound, or process to or with a record with the present intent to
212	authenticate a record.
213	(21)  "State" means a state of the United States, the
214	District of Columbia, Puerto Rico, the United States Virgin
215	Islands, or any territory or insular possession subject to the
216	jurisdiction of the United States.
217	(22)  "Time of foreclosure" means the time that title to
218	real property collateral passes to the person acquiring it by
219	virtue of foreclosure under this chapter.
220	52.103  Application.-
221	(1)  Except as otherwise provided in subsection (2), this
222	chapter authorizes the nonjudicial foreclosure of every form of
223	security interest in real property located in this state and
224	related personal property, regardless of when the security
225	interest was entered into, if the original notice of foreclosure
226	is given after July 1, 2010, and if the debtor has agreed in
227	substance in the security instrument or in a separate written
228	document that the security interest may be foreclosed using a
229	nonjudicial process.
230	(2)  This chapter may not be used to foreclose:
231	(a)  A lien created by statute or operation of law, except
232	a lien of an owners' association on property in a common
233	interest community;
234	(b)  A security interest in property in a common interest
235	community if under the law of this state that interest is
236	personal property; or
237	(c)  A security interest in rents or proceeds of real
238	property.
239	(3)  This chapter does not preclude or govern foreclosure
240	or other enforcement of security interests in real property by
241	judicial or other action permitted by any other laws of this
242	state.
243	(a)  A secured creditor may not take action in pursuance of
244	foreclosure under this chapter if a judicial proceeding is
245	pending in this state to foreclose the security interest or to
246	enforce the secured obligation against a person primarily liable
247	for the obligation.
248	(b)  A secured creditor may not commence or pursue
249	foreclosure under this chapter if a judicial proceeding is
250	pending in this state to challenge the existence, validity, or
251	enforceability of the security interest to be foreclosed.
252	(c)  Except as provided in s. 52.208(2), foreclosure under
253	this chapter may proceed even if a judicial proceeding is
254	pending or a judicial order has been obtained for appointment or
255	supervision of a receiver of the collateral, possession of the
256	collateral, enforcement of an assignment of rents or other
257	proceeds of the collateral, or collection or sequestration of
258	rents or other proceeds of the collateral or to enforce the
259	secured obligation against a guarantor.
260	(4)  If a security instrument covers both real property and
261	personal property, the secured creditor may proceed under this
262	chapter as to both the real property and personal property to
263	the extent permitted by chapter 679.
264	52.104  Variation by agreement.-
265	(1)  Except as otherwise provided in subsections (2)-(4),
266	the parties to a security instrument may not vary by agreement
267	the effect of a provision of this chapter.
268	(2)  The time within which a person must respond to a
269	notice sent by a secured creditor may be extended by agreement.
270	(3)  The parties to a security instrument may vary the
271	effect of any provision of this chapter that by its terms
272	permits the parties to do so.
273	(4)  The parties by agreement may determine the standards
274	by which performance of obligations under this chapter is to be
275	measured if those standards are not manifestly unreasonable.
276	(5)  If every debtor under a security instrument is not a
277	residential debtor, an agreement by a guarantor waiving the
278	right to receive notices under this chapter with respect to the
279	foreclosure of the property of a debtor who is not a guarantor
280	is enforceable unless a waiver is unenforceable under other
281	applicable law.
282	52.105  Supplemental principles of law and equity
283	applicable.-Unless displaced by a particular provision of this
284	chapter, the principles of law and equity affecting security
285	interests in real property supplement this chapter.
286	52.106  Notice and knowledge.-For purposes of this section:
287	(1)  The following definitions apply:
288	(a)  "Address" means a physical or an electronic address,
289	or both, as the security instrument requires.
290	(b)  "Address for notice" means:
291	1.  With respect to a notice given by a secured creditor:
292	a.  For a recipient that has given to the secured creditor
293	a security instrument or other document in connection with a
294	security instrument, the address, if any, specified in the
295	security instrument or document.
296	b.  For a recipient not described in sub-subparagraph a.
297	that is identifiable from examination of the public records of
298	the county or counties in which the collateral is located, or,
299	if personal property is being foreclosed together with real
300	property, the Uniform Commercial Code financing statement
301	filings, the address, if any, specified in the recorded or filed
302	document.
303	c.  For a recipient not described in sub-subparagraph a. or
304	sub-subparagraph b. that the secured creditor knows is a tenant,
305	subtenant, or leasehold assignee of all or part of the real
306	property collateral, the most recent address made known to the
307	secured creditor by that person or, if none, the address of the
308	real property collateral, including the designation of any
309	office, apartment, or other unit that the secured creditor knows
310	is possessed by the recipient, with the notice directed to the
311	recipient's name, if known, or otherwise "To Tenant occupying
312	property at" the physical address or description of the real
313	property collateral.
314	d.  For a recipient not described in sub-subparagraphs a.-
315	c., the physical address of the real property collateral.
316	2.  With respect to notices given by persons other than a
317	secured creditor, the most recent address given in a document
318	provided by the recipient to the person giving notice.
319	(c)  "Electronic" means relating to technology having
320	electrical, digital, magnetic, wireless, optical,
321	electromagnetic, or similar capabilities.
322	(d)  "Electronic notice" means an electronic record signed
323	by the person sending the notice.
324	(e)  "Electronic record" means a record created, generated,
325	sent, communicated, received, or stored by electronic means.
326	(f)  "Electronic signature" means an electronic sound,
327	symbol, or process attached to or logically associated with a
328	record and executed or adopted by a person with intent to
329	authenticate the record.
330	(g)  "Recipient" means a person to whom a notice is sent.
331	(h)  "Written notice" means a written record signed by the
332	person giving the notice.
333	(2)  A person knows a fact if:
334	(a)  The person has actual knowledge of the fact;
335	(b)  The person has received a notice or notification of
336	the fact; or
337	(c)  From all the facts and circumstances known to the
338	person at the time in question the person has reason to know the
339	fact.
340	(3)  Notice is sent or given, or a recipient is notified,
341	subject to the limitations of subsection (4):
342	(a)  By hand delivering a written notice to the recipient
343	or to an individual authorized to receive service of civil
344	process under applicable Florida law who is found at the
345	recipient's address for notice;
346	(b)  By depositing written notice, properly addressed to
347	the recipient's address for notice, with cost of delivery paid:
348	1.  With the United States Postal Service, registered or
349	certified mail, return receipt requested;
350	2.  With the United States Postal Service by regular mail;
351	or
352	3.  With a commercially reasonable carrier other than the
353	United States Postal Service; or
354	(c)  Subject to subsection (7), by initiating operations
355	that in the ordinary course will cause the notice to come into
356	existence at the recipient's address for notice in the
357	recipient's information processing system in a form capable of
358	being processed by the recipient.
359	(4)  If the recipient is an individual and the security
360	interest covers the recipient's primary residence, use of the
361	methods of notice specified in subsection (3) is limited as
362	follows:
363	(a)  If the notice is a notice of default pursuant to s.
364	52.202 or a notice of foreclosure pursuant to s. 52.203, both of
365	the methods of giving notice specified in subparagraphs (3)(b)2.
366	and 3. must be used.
367	(b)  If the notice is not a notice of default pursuant to
368	s. 52.202 or a notice of foreclosure pursuant to s. 52.203, a
369	method of giving notice specified in paragraph (3)(a) or
370	paragraph (3)(b) must be used.
371	(5)  If a person giving a notice pursuant to this chapter
372	and the recipient have agreed to limit the methods of giving
373	notice otherwise permitted by subsections (3) and (4), that
374	limitation is enforceable to the extent that it is consistent
375	with subsection (4) and is otherwise permitted by law.
376	(6)  A person may not give an electronic notice unless the
377	recipient uses, designates by agreement, or otherwise has
378	designated or holds out an information processing system or
379	address within that system as a place for the receipt of
380	communications of that kind. An electronic notice is not sent if
381	the sender or its information processing system inhibits the
382	ability of the recipient to print or store the record.
383	(7)  If, at the time of giving a required notice, a person
384	knows that the recipient's address for notice is incorrect or
385	that notices cannot be delivered to the recipient at that
386	address, the person that sent the notice shall make a reasonable
387	effort to determine a correct address for the recipient and send
388	the notice to the address so determined. Compliance with the
389	provisions of chapter 49 satisfies the requirement to make
390	reasonable effort to locate the party entitled to notice.
391	(8)  If, after giving a notice, a person acquires knowledge
392	that the address of the recipient to which the notice was
393	directed is incorrect or that notices cannot be delivered to the
394	recipient at that address, the person that sent the notice shall
395	promptly make a reasonable effort to determine a correct address
396	for the recipient and send another copy of the notice to the
397	address so determined, if any. The first notice, if timely sent
398	and properly directed to the recipient's address for notice,
399	complies with the time requirements of this chapter.
400	(9)  A person may use methods of giving notice in addition
401	to, but not in place of, the methods required by subsections (3)
402	and (4).
403	(10)  A notice is sufficient even if it includes
404	information not required by law or contains minor errors that
405	are not seriously misleading.
406	(11)  Receipt of a notice within the time in which it would
407	have been received if properly sent has the effect of a proper
408	giving of notice.
409	(12)  If the recipient is an individual, a notice is
410	received when it comes to the recipient' s attention or is
411	delivered to and available at the recipient's address for
412	notice. If the recipient is not an individual, a notice is
413	received when it is brought to the attention of the individual
414	conducting the transaction, or in any event when it would have
415	been brought to that individual's attention if the recipient had
416	exercised due diligence. An organization exercises due diligence
417	if it maintains reasonable routines for communicating
418	significant information with the person conducting the
419	transaction and there is reasonable compliance with the
420	routines. Due diligence does not require an individual acting
421	for the organization to communicate information unless such
422	communication is part of the individual's regular duties or
423	unless the individual has reason to know of the transaction and
424	that the transaction would be materially affected by the
425	information.
426	(13)  Subject to subsection (12), a person that has sent a
427	notice may revoke it by a subsequent notice unless the recipient
428	has materially changed its position in reliance on the notice
429	before receiving the revocation.
430	52.107  Transaction creating security interest.-A
431	transaction that is intended to create a security interest does
432	so irrespective of the caption of the documents.
433	52.108  Time of foreclosure.-The time of foreclosure is the
434	time the affidavit required by:
435	(1)  Section 52.312 is recorded, in the case of a
436	foreclosure by auction.
437	(2)  Section 52.405 is recorded, in the case of a
438	foreclosure by negotiated sale.
439	(3)  Section 52.505 is recorded, in the case of a
440	foreclosure by appraisal.
441	Section 2.  Part II of chapter 52, Florida Statutes,
442	consisting of sections 52.201, 52.202, 52.203, 52.204, 52.205,
443	52.206, 52.207, 52.208, and 52.209, is created to read:
444	PART II
445	PROCEDURES BEFORE FORECLOSURE
446	52.201  Right to foreclose.-
447	(1)  A secured creditor has a right to foreclose under this
448	chapter if:
449	(a)  All conditions that, by law and the terms of the
450	security instrument, are prerequisites to foreclosure have been
451	satisfied.
452	(b)  All notices to the debtor required by the security
453	instrument and by this chapter as prerequisites to foreclosure
454	have been given.
455	(c)  All periods for cure available to the debtor by the
456	terms of the security instrument and law as prerequisites to
457	foreclosure have elapsed and no cure has been made.
458	(2)  A foreclosing creditor may pursue foreclosure
459	exclusively by auction, by negotiated sale, or by appraisal, or
460	may simultaneously pursue, together with foreclosure by auction,
461	either foreclosure by negotiated sale or by appraisal, but not
462	both. If the creditor pursues two methods of foreclosure
463	simultaneously, the notice of foreclosure must state both
464	methods.
465	52.202  Notice of default and right to cure.-
466	(1)  Subject to subsection (2) and paragraph (6)(a), a
467	notice of default must be given to each debtor and each interest
468	holder whose interest gives right of possession of the real
469	property collateral, and the cure period provided by this
470	section must expire without cure being made, before the original
471	notice of foreclosure may be given.
472	(2)  Except as provided in the security instrument, notice
473	of default need not be given and no cure period is applicable if
474	the default cannot be cured.
475	(3)  A notice of default must contain:
476	(a)  The facts establishing that a default has occurred.
477	(b)  The amount to be paid or other performance required to
478	cure the default, including the daily rate of accrual for
479	amounts accruing over time, and the time within which cure must
480	be made.
481	(c)  The name, address, and telephone number of an
482	individual who is or represents the secured creditor and who can
483	be contacted for further information concerning the default.
484	(d)  A statement that foreclosure may be initiated if the
485	default is not cured in a timely manner.
486	(4)  Within 30 days after notice of default is given to the
487	last person entitled to such notice, any person may:
488	(a)  Cure the default if the default is curable by the
489	payment of money; or
490	(b)  Commence to cure the default if the default cannot be
491	cured by the payment of money, diligently proceed to cure the
492	default, and complete the cure of the default within 90 days
493	after the notice of default was given.
494	(5)  If no person is proceeding diligently to cure a
495	default that cannot be cured by the payment of money after 30
496	days from the date the notice of default was sent to the last
497	person entitled to such notice, the secured creditor may
498	immediately terminate the period allowed for cure by
499	accelerating payment of the principal amount owing on the
500	secured obligation or giving an original notice of foreclosure.
501	(6)  If none of the real property to be foreclosed is
502	residential real property:
503	(a)  If a default cannot be cured by the payment of money
504	and a notice of default was given by the secured creditor within
505	1 year before the date of the present default on account of a
506	default of the same kind, a notice of default is not required
507	and a right to cure does not exist except as agreed by the
508	parties.
509	(b)  The periods specified in subsection (4) to cure a
510	default may be reduced as the parties agree in the security
511	instrument.
512	(7)  A notice of default may be given notwithstanding that
513	a notice of default has previously been given on account of a
514	different default and is still pending.
515	(8)  The right to cure a default provided in this section
516	does not impair or limit any other right to notice of default or
517	to cure a default provided to any person by the security
518	instrument. The period to cure provided in this section and any
519	period to cure provided in the security instrument run
520	concurrently unless the security instrument provides otherwise.
521	(9)  Unless precluded from doing so by law other than this
522	chapter, a secured creditor shall cooperate with any debtor or
523	interest holder that attempts to cure a default by promptly
524	providing upon request reasonable information concerning the
525	amount or other performance due and expenses necessary for cure.
526	(10)  If a default is cured within a period allowed by this
527	section, or after the expiration of that period but before
528	acceleration of the principal amount owing on the secured
529	obligation or the giving of an original notice of foreclosure,
530	an acceleration by the secured creditor of the principal amount
531	owing on the secured obligation on account of that default is
532	ineffective.
533	(11)  During a period allowed for cure of a default under
534	this section, a secured creditor may enforce any remedy other
535	than foreclosure provided for by the security instrument and
536	enforceable under the laws of this state other than this chapter
537	if enforcement does not unreasonably interfere with the ability
538	of a debtor to cure a default under this section.
539	52.203  Notice of foreclosure; manner of giving.-
540	(1)  If a secured creditor has a right to foreclose under
541	s. 52.201, the secured creditor may commence foreclosure by
542	giving notice of foreclosure. The notice must comply with
543	subsections (2) and (3) and s. 52.204 and is a prerequisite to
544	foreclosure.
545	(2)  A foreclosing creditor shall record a copy of the
546	notice of foreclosure in the public records of each county in
547	which the real property collateral is located. A recorded notice
548	of foreclosure is notice of its existence and contents to any
549	person acquiring an interest in the real property collateral
550	after the notice of foreclosure is recorded. In the absence of
551	recording of the notice of foreclosure, any purported
552	foreclosure under this chapter is void.
553	(3)  Except as otherwise provided in subsection (4), a
554	foreclosing creditor shall give a notice of foreclosure to the
555	following persons no later than 5 days after recording the
556	original notice of foreclosure pursuant to subsection (2) if
557	such persons can be identified as of the time of recording of
558	the notice of foreclosure:
559	(a)  A person that the foreclosing creditor knows to be a
560	debtor.
561	(b)  A person specified by the debtor in the security
562	instrument to receive notice on the debtor's behalf.
563	(c)  A person that is shown by the public records of each
564	county in which any part of the real property collateral is
565	located to be an interest holder in the real property
566	collateral.
567	(d)  If the foreclosing creditor holds and intends to
568	foreclose on a security interest in personal property, a person
569	who is entitled to notice with respect to the disposition of the
570	personal property collateral under chapter 679.
571	(e)  A person who the foreclosing creditor knows is an
572	interest holder in the real property collateral.
573	(f)  A person that has recorded in the public records of a
574	county in which any part of the real property collateral is
575	located a request for notice of foreclosure satisfying the
576	requirements of s. 52.205.
577	(g)  If the public records of the county in which the real
578	property being foreclosed is located show that the real property
579	may be obligated to a common interest community, a person who is
580	an officer, director, or registered agent of such common
581	interest community.
582	(4)  After the time of recording of the notice of
583	foreclosure, if the foreclosing creditor obtains actual
584	knowledge that a person holds an interest in the collateral that
585	is subordinate in priority to the security instrument, the
586	foreclosing creditor must give a notice of foreclosure to that
587	person no later than 5 days after obtaining such knowledge.
588	(5)  A foreclosing creditor may give a special notice of
589	foreclosure to any person described in subsection (3) or
590	subsection (4) to avoid the termination of that person's
591	interest in the collateral by the foreclosure. The special
592	notice shall give the information required by s. 52.204, but
593	state that the recipient's interest in the collateral will not
594	be terminated by the foreclosure.
595	(6)  A foreclosing creditor, within 10 days before or after
596	recording a notice of foreclosure, shall affix a copy of the
597	notice of foreclosure at a conspicuous place on the real
598	property collateral.
599	(7)  An original notice of foreclosure is ineffective if
600	given after the limitation period for foreclosure of a security
601	interest in real property by judicial proceeding has expired.
602	52.204  Notice of foreclosure: content.-
603	(1)  The heading of a notice of foreclosure must be
604	conspicuous and must read as follows:
605	"NOTICE OF FORECLOSURE. YOU ARE HEREBY NOTIFIED THAT YOU
606	MAY LOSE YOUR RIGHTS TO CERTAIN PROPERTY. READ THIS
607	NOTICE IMMEDIATELY AND CAREFULLY."
608	(2)  A notice of foreclosure must contain:
609	(a)  The date of the notice, the name of the owner of the
610	collateral as identified in the security instrument, a legally
611	sufficient description and, at the secured creditor's option,
612	the street address, if any, stated in the security instrument of
613	the real property collateral or portion thereof being
614	foreclosed, and a description of any personal property
615	collateral to be included in the foreclosure.
616	(b)  Information concerning the recording of the security
617	instrument, including the recording date, and the official
618	records book and page number or the official recording number
619	for the security instrument.
620	(c)  A statement that a default exists under the security
621	instrument, and the facts establishing the default.
622	(d)  A statement that the foreclosing creditor is
623	initiating foreclosure.
624	(e)  A statement that the foreclosing creditor has
625	accelerated or, by virtue of the notice, is accelerating the due
626	date of the principal amount owing on the secured obligation or
627	a statement that the foreclosing creditor elects not to
628	accelerate the due date.
629	(f)  A statement that the collateral may be redeemed from
630	the security interest by payment in full or performance of the
631	secured obligation in full before foreclosure and the amount to
632	be paid or other action necessary to redeem, including a per
633	diem amount that will allow calculation of the total balance
634	owed as of future dates and any further amount the foreclosing
635	creditor anticipates expending to protect the collateral.
636	(g)  A statement of the method or methods of foreclosure
637	the foreclosing creditor elects to use and the earliest date on
638	which foreclosure will occur if no redemption is made.
639	(h)  A statement that the foreclosure will terminate the
640	rights in the collateral of the person receiving the notice of
641	foreclosure.
642	(i)  If applicable, an explanation of a debtor's right to
643	avoid a deficiency claim by compliance with s. 52.605.
644	(j)  If the foreclosure is by negotiated sale or by
645	appraisal, an explanation of the right of the debtor and holders
646	of subordinate interests to object to the foreclosure as
647	provided by s. 52.206.
648	(k)  If applicable, a statement that, within 15 days after
649	the date the notice of foreclosure is given, a debtor or an
650	interest holder having a possessory interest in the real
651	property collateral may request a meeting with a representative
652	of the foreclosing creditor to object to the foreclosure as
653	provided by s. 52.206.
654	(l)  The name, address, and telephone number of an
655	individual who is the foreclosing creditor or a representative
656	of the foreclosing creditor and who can be contacted for further
657	information concerning the foreclosure.
658	(m)  A statement that any person receiving a notice of
659	foreclosure may file an action in court objecting to the
660	foreclosure, which action must be filed within 20 days after
661	receipt of the original notice of foreclosure unless the debtor
662	has been granted a homestead exemption pursuant to s. 196.031
663	for the property being foreclosed, in which case the complaint
664	must be filed no later than 45 days after receipt of the
665	original notice of foreclosure.
666	52.205  Request for notice of foreclosure.-
667	(1)  Any person may record in the public records of any
668	county or counties a request for notice of foreclosure of a
669	security instrument that has been recorded in such county or
670	counties. The request must state:
671	(a)  The date of the security interest, the date of its
672	recording, and the official records book and page, or official
673	recording number of the security instrument's recording.
674	(b)  The names of the parties to the security instrument.
675	(c)  A legally sufficient description of the real property
676	collateral affected by the security instrument.
677	(d)  The name and address of the person requesting notice
678	of foreclosure.
679	(e)  The legal interest, if any, held by the person
680	recording the request for notice.
681	(2)  A person that records a request under subsection (1)
682	prior to the secured party's commencing foreclosure as provided
683	in s. 52.203(1) is entitled to be given notice of foreclosure
684	under s. 52.203(1). Recording a request does not affect the
685	title to the real property collateral and does not constitute
686	constructive notice to any person with an interest in the real
687	property collateral held or claimed by the person requesting
688	notice. A person that records a request for notice under this
689	section may subsequently record an amendment supplementing or
690	correcting information in the request or record a withdrawing of
691	the request.
692	(3)  A foreclosing creditor is liable for a penalty of $500
693	to a person that is not given timely notice of foreclosure if
694	that person has recorded a request for notice of foreclosure
695	meeting the standards of this section. If a recorded request for
696	notice states that the person recording the request has an
697	interest in the real property collateral and the person is not
698	given timely notice of foreclosure, the person's interest in the
699	collateral, if any, is preserved from termination by the
700	foreclosure.
701	52.206  Meeting to object to foreclosure.-
702	(1)  A debtor may request a meeting to object to a
703	foreclosure. The request must be made by a notice received by
704	the foreclosing creditor within 30 days after the notice of
705	foreclosure is given to that debtor. If the foreclosing creditor
706	receives a request for a meeting, the foreclosing creditor or a
707	responsible representative of the foreclosing creditor shall
708	schedule and attend a meeting with the person requesting it at a
709	mutually agreeable time. The representative may be an employee,
710	agent, servicer, or attorney of the foreclosing creditor and
711	must have authority to terminate the foreclosure if the
712	representative determines that there is no legal basis for
713	foreclosure. The meeting may be held in person or by telephone,
714	video conferencing, or other reasonable means, at the election
715	of the foreclosing creditor. If the meeting is held in person,
716	it must be held at a location reasonably convenient to a parcel
717	of the real property collateral unless the person requesting the
718	meeting and the representative mutually agree on a different
719	location. If the foreclosing creditor receives requests from
720	more than one person, the creditor or representative may attempt
721	to arrange a consolidated meeting, and the persons requesting
722	meetings must cooperate reasonably with the foreclosing
723	creditor's effort to do so.
724	(2)  A meeting conducted pursuant to this section is
725	informal and the rules of evidence do not apply. The parties may
726	be represented by legal counsel. The foreclosing creditor or
727	representative must have access to records that provide evidence
728	of the grounds for foreclosure. If the debtor desires to
729	negotiate a forbearance or modification on the underlying
730	obligation, the debtor must provide financial statements and
731	other documents sufficient to permit the foreclosing creditor to
732	determine the existence, if any, for grounds to negotiate
733	alternate terms or obligations. The creditor or representative
734	shall consider the objections to foreclosure stated by the
735	person requesting the meeting. Within 10 days after the meeting,
736	the creditor or representative attending the meeting shall give
737	to each person who requested the meeting a written statement
738	indicating whether the foreclosure will be discontinued or will
739	proceed and the reasons for the determination. The objections to
740	foreclosure stated by the person requesting the meeting and the
741	reasons stated by the creditor or representative do not preclude
742	any person from raising those or other grounds for objecting to
743	or supporting foreclosure in any subsequent judicial proceeding.
744	A statement or representation made by a person at the meeting
745	may not be introduced as evidence in any judicial proceeding.
746	Each party must bear its own expenses in connection with the
747	meeting.
748	(3)  The foreclosing creditor and the representative do not
749	incur any liability for making a determination that is adverse
750	to the person who requested the meeting.
751	52.207  Period of limitation for foreclosure.-The time of
752	foreclosure may not be less than 90 days nor more than 1 year
753	after an original notice of foreclosure is recorded under s.
754	52.203 and not less than 30 days after any subsequent notice of
755	foreclosure. The 1-year period of limitation may be extended by
756	agreement of the foreclosing creditor and all persons to whom
757	notice of foreclosure was required to be given pursuant to s.
758	52.203(3), other than persons excluded from foreclosure by
759	notice issued under s. 52.203(5), s. 52.406(1)(b), or s.
760	52.506(1)(b). The 1-year and 30-day periods of limitation are
761	tolled during the period that any court order temporarily
762	enjoining or staying the foreclosure is in effect and during any
763	stay under the United States Bankruptcy Code, 11 U.S.C. ss. 101
764	et seq.
765	52.208  Judicial supervision of foreclosure.-
766	(1)  Before the time of foreclosure, any person required to
767	be notified of the foreclosure pursuant to s. 52.203(3) may
768	commence a proceeding in a court of competent jurisdiction for
769	any violation of this chapter or of other law or principle of
770	equity in the conduct of the foreclosure. The court may issue
771	any order within the authority of the court in a foreclosure of
772	a mortgage by judicial action, including injunction and
773	postponement of the foreclosure.
774	(2)  Any person required to be notified of the foreclosure
775	pursuant to s. 52.203(3) may file an action in the circuit court
776	demanding that the foreclosure proceed through the court
777	process. The complaint must include a notice of demand of
778	judicial foreclosure and must be filed no later than 20 days
779	after receipt of the original notice of foreclosure unless filed
780	by a debtor who has been granted and has continuously maintained
781	a homestead exemption pursuant to s. 196.031 for the property
782	being foreclosed, in which case the complaint must be filed by
783	such debtor no later than 45 days after receipt of the original
784	notice of foreclosure. The complaint must state a bona fide
785	defense to the foreclosure and must include a certification by
786	all plaintiffs under oath that the complaint is not being filed
787	principally for the purpose of delay. Unless waived pursuant to
788	s. 57.082 or as permitted under subsection (3), the complaint
789	must be accompanied by the appropriate filing fee and any other
790	required fees. Service of process on the foreclosing creditor
791	may be perfected by serving the foreclosing creditor at the
792	address listed on the notice of foreclosure sent to the debtor
793	as required by s. 52.203(3). Unless dismissed by the court, the
794	civil action takes precedence over foreclosure under this
795	chapter and the creditor must cease further action under this
796	chapter.
797	(3)(a)  A debtor who has been granted and has continuously
798	maintained a homestead exemption pursuant to s. 196.031 for the
799	property being foreclosed may, in lieu of paying the filing and
800	other fees associated with commencing a civil action, file a
801	complaint pursuant to this chapter without paying filing fees if
802	such debtor is the only plaintiff in the lawsuit and if the
803	complaint is accompanied by a sworn affidavit confirming that:
804	1.  Payment of the required fees would place an undue
805	hardship on the debtor receiving and maintaining a homestead
806	exemption.
807	2.  The debtor receiving and maintaining a homestead
808	exemption has a bona fide defense to the foreclosure proceeding.
809	3.  The filing is not principally for the purpose of delay.
810	(b)  If the debtor filing the complaint under paragraph (a)
811	is represented by an attorney, the attorney shall also verify
812	under oath, to the best of his or her knowledge, that the
813	affidavit required of the debtor receiving and maintaining a
814	homestead exemption under paragraph (a) is true and correct.
815	(c)  Within 45 days after a debtor's filing an action in
816	circuit court under this subsection, the foreclosing creditor
817	shall pay the required filing and other fees to the clerk of the
818	circuit court. Failure to do so shall cause the complaint to be
819	dismissed without prejudice.
820	(d)  In addition, the debtor's attorney shall provide to
821	the debtor a written statement that electing to proceed in court
822	rather than under this chapter could result in a deficiency
823	judgment, a more negative impact upon credit ratings, and
824	eviction immediately upon entry of a judgment of foreclosure.
825	This statement must be acknowledged by the debtor in writing.
826	Failure by the debtor's attorney to comply with this paragraph
827	is negligence per se.
828	(4)  The court may, at any time, examine the pleadings,
829	affidavits, and the parties and shall dismiss the case upon a
830	finding that the case was filed principally for the purpose of
831	delay. If the court dismisses the action, the foreclosure under
832	this chapter shall resume from the point at which it previously
833	stopped, treating the case filing as an abatement of the
834	foreclosure under this chapter, and all costs shall be awarded
835	in favor of the foreclosing creditor. In addition, if the court
836	finds that the affidavits required under paragraphs (3)(a) and
837	(b) are false or were filed without reasonable basis, the debtor
838	and his attorney shall be jointly and severally liable for the
839	foreclosing creditor's reasonable costs and attorney's fees.
840	52.209  Redemption.-A person who has the right to redeem
841	collateral from a security interest under principles of law and
842	equity may not redeem after the time of foreclosure. Unless
843	precluded from doing so by law other than this chapter, a
844	foreclosing creditor shall cooperate with any person who
845	attempts to redeem the collateral from the security interest
846	before the time of foreclosure by promptly providing upon
847	request reasonable information concerning the amount due or
848	performance required to redeem.
849	Section 3.  Part III of chapter 52, Florida Statutes,
850	consisting of sections 52.301, 52.302, 52.303, 52.304, 52.305,
851	52.306, 52.307, 52.308, 52.309, 52.310, 52.311, and 52.312, is
852	created to read:
853	PART III
854	FORECLOSURE BY AUCTION
855	52.301  Foreclosure by auction.-A secured creditor may
856	elect to foreclose by auction. A secured creditor that elects to
857	foreclose by auction shall comply with the requirements of this
858	part and parts I, II, and VI.
859	52.302  Evidence of title; other information.-
860	(1)  If a secured creditor elects to foreclose by auction,
861	the foreclosing creditor shall obtain evidence of title and make
862	a copy thereof available upon request to any prospective bidder
863	at the foreclosure. The evidence of title must have an effective
864	date no earlier than the time of recording of the original
865	notice of foreclosure and must be issued no later than 30 days
866	after the time of such recording. Unless the evidence of title
867	is an attorney's opinion, the evidence of title must state that
868	the issuer is willing to provide evidence of title to the real
869	property collateral to a person who acquires title by virtue of
870	the foreclosure, and the exceptions and exclusions from coverage
871	to which the evidence of title issued to that person will be
872	subject.
873	(2)  The foreclosing creditor may, but is not required to,
874	make reports and information concerning the collateral other
875	than evidence of title available to prospective bidders at the
876	foreclosure.
877	(3)  The foreclosing creditor is not liable to any person
878	because of error in any information disclosed to prospective
879	bidders unless the information was prepared by the foreclosing
880	creditor and the foreclosing creditor had actual knowledge of
881	the error at the time the information was disclosed.
882	52.303  Advertisement of sale.-
883	(1)  After giving notice as required by ss. 52.203 and
884	52.204, a foreclosing creditor shall, at the foreclosing
885	creditor's option, advertise foreclosure sale under this part
886	either:
887	(a)  In a manner that complies with the publication
888	requirements provided by s. 45.031; or
889	(b)  By placing an advertisement in a newspaper having
890	general circulation in each county where any part of the real
891	property collateral is located. The advertisement must be
892	published at least once per week for 3 consecutive weeks, with
893	the last publication not less than 7 nor more than 30 days
894	before the advertised date of sale.
895	(2)  No later than 21 days before the advertised date of
896	sale, the foreclosing creditor shall give a copy of the
897	advertisement required by subsection (1) to the persons to whom
898	notice of foreclosure was required to be given pursuant to s.
899	52.203. The advertisement may be sent with the notice of
900	foreclosure or may be sent separately in the manner prescribed
901	for notices under s. 52.106. The foreclosing creditor may, but
902	is not required to, enter the real property collateral and post
903	on it a copy of the advertisement or a sign containing
904	information about the sale.
905	(3)  An advertisement required by subsection (1) must
906	state:
907	(a)  The date, time, and location by street address and, if
908	applicable, by floor and office number, of the foreclosure sale.
909	(b)  That the sale will be made to the highest qualified
910	bidder.
911	(c)  The amount or percentage of the bid that will be
912	required of the successful bidder at the completion of the sale
913	as a deposit, and the form in which the deposit may be made if
914	payment other than by cash or certified check will be accepted.
915	(d)  A legally sufficient description of the real property
916	to be sold, and the street address, if any, or the location if
917	there is no street address, of the real property.
918	(e)  A brief description of any improvements on the real
919	property and any personal property collateral to be sold.
920	(f)  The name, address, and telephone number of an
921	individual who is the foreclosing creditor or a representative
922	of the foreclosing creditor, who can provide information
923	concerning the collateral and the foreclosure if the foreclosing
924	creditor is not an individual.
925	(g)  That a copy of the evidence of title, any available
926	reports concerning the collateral, which may be listed
927	specifically, and additional information are available from the
928	person identified pursuant to paragraph (f).
929	(h)  Whether access to the collateral for the purpose of
930	inspection before foreclosure is available to prospective
931	bidders and, if so, how to obtain access.
932	(4)  An advertisement required by subsection (1) may also
933	state any other information concerning the collateral or the
934	foreclosure that the foreclosing creditor elects to include.
935	52.304  Access to collateral.-If a foreclosing creditor has
936	authority to grant access to the real property collateral, the
937	creditor shall reasonably accommodate a person who contacts the
938	creditor, expresses an interest in bidding at the foreclosure
939	sale, and requests an opportunity to inspect the collateral.
940	52.305  Location and time of sale.-An auction sale under
941	this part must be conducted:
942	(1)  At a date and time permitted for a sale under judicial
943	foreclosure of a security interest in real property in this
944	state.
945	(2)  In a county where some of the real property collateral
946	is located.
947	(3)  At any location where a sale under judicial
948	foreclosure of a security interest in real property may be held
949	in this state.
950	52.306  Foreclosure of two or more parcels.-
951	(1)  Collateral consisting of two or more parcels of real
952	property may be foreclosed by auction separately or in
953	combination. If the security instrument does not specify the
954	manner of sale of two or more parcels, the auction may be
955	conducted:
956	(a)  By separate sale of each of the parcels; or
957	(b)  At the time notice of foreclosure is recorded, if two
958	or more parcels are contiguous, are being used in a unitary
959	manner, are part of a unitary plan of development, or are
960	operated under integrated management:
961	1.  By combining the parcels in a single auction; or
962	2.  By conditionally offering the parcels both in
963	combination and separately, and accepting the higher of the two
964	aggregate bids.
965	(2)  If the entire real property collateral is not made the
966	subject of a single auction, the foreclosing creditor shall
967	discontinue sales of parcels or combinations of parcels when the
968	total amount of bids received is sufficient to pay the secured
969	obligation and the expenses of foreclosure.
970	52.307  Postponement of sale.-
971	(1)  An individual conducting an auction under this part
972	may postpone the auction for any cause the foreclosing creditor
973	considers appropriate. Announcement of the postponement, and the
974	time and location of the rescheduled sale, must be given orally
975	at the place previously scheduled for the sale and within a
976	reasonable time after the scheduled time for commencement of the
977	sale. No other advertisement or notice of the postponed time and
978	place of sale is required. A postponement may not be for a
979	period of more than 30 days. Subsequent postponements of the
980	sale may be made in the same manner.
981	(2)  If an auction cannot be held at the time stated in the
982	notice of sale by reason of stay under the United States
983	Bankruptcy Code, 11 U.S.C. ss. 101 et seq., or a stay order
984	issued by any court of competent jurisdiction, the foreclosing
985	creditor may reschedule the auction to occur at a time when the
986	stay is no longer in effect. The rescheduled sale must be
987	advertised, and a copy of the advertisement must be sent to the
988	persons entitled thereto, as provided by s. 52.302.
989	52.308  Conduct of sale.-
990	(1)  An auction sale under this part must be conducted by a
991	person designated by the foreclosing creditor.
992	(2)  The person conducting an auction, before commencing
993	the auction:
994	(a)  Must make available to prospective purchasers copies
995	of the evidence of title.
996	(b)  May verify that persons intending to bid have money in
997	an amount and form necessary to make the deposit stated in the
998	advertisement, but may not disclose the amount that any bidder
999	is prepared to deposit.
1000	(3)  The auction must be conducted, at the foreclosing
1001	creditor's option:
1002	(a)  By the creditor or the creditor's representative
1003	following the procedures for sale prescribed by s. 45.031; or
1004	(b)  In the following manner:
1005	1.  Any person, including a debtor and the foreclosing
1006	creditor, may bid at the auction. The individual conducting the
1007	auction may bid on behalf of the foreclosing creditor or any
1008	other person by whom he or she is authorized, but may not bid
1009	for his or her own account. The foreclosing creditor may bid by
1010	credit up to any amount up to the balance owing on the secured
1011	obligation, including the expenses of foreclosure.
1012	2.  A fixed bid of a person not attending the auction may
1013	be submitted by a writing received at least 24 hours before the
1014	scheduled time of the auction by the person designated in the
1015	advertisement of sale to provide information about the property.
1016	The bid must be accompanied by a deposit satisfying the
1017	requirements of s. 52.310. The bid must be read aloud by the
1018	person conducting the auction before the auction is opened to
1019	oral bids.
1020	3.  Sale must be made to the person bidding the highest
1021	amount who complies with this section.
1022	4.  The auction is completed by the announcement of the
1023	person conducting the auction that the property is sold.
1024	52.309  Deposit by successful bidder.-Immediately after the
1025	sale is complete, the successful bidder, if other than the
1026	foreclosing creditor, at an auction under this part must pay a
1027	deposit to the person conducting the sale. The deposit must be
1028	at least 10 percent of the amount of the bid or such lower
1029	amount as the advertisement of sale stated would be accepted.
1030	The deposit must be paid in cash, by certified check, or in such
1031	other form of payment as was stated to be acceptable in the
1032	advertisement of sale or is acceptable to the person conducting
1033	the sale.
1034	52.310  Payment of remainder of bid.-
1035	(1)  The successful bidder at an auction under this part
1036	shall pay the remainder of the bid to the person conducting the
1037	sale within 7 days after notice is given under s. 52.106(8) of
1038	the date of the auction.
1039	(2)  If payment of the remainder of the bid is not timely
1040	made, the foreclosing creditor may cancel the sale and
1041	reschedule the auction as provided in s. 52.307(2) or may
1042	terminate the foreclosure under s. 52.701. In either event the
1043	deposit of the successful bidder may be forfeited and
1044	distributed in the same manner as the proceeds of a sale, but no
1045	person has any other remedy against the defaulting bidder.
1046	52.311  Foreclosure amount; distribution of proceeds.-The
1047	highest amount bid at a sale is the foreclosure amount. The
1048	foreclosure must be applied by the foreclosing creditor as
1049	provided in s. 52.601 within 30 days after the time of the
1050	foreclosure. After receiving but before applying the proceeds of
1051	sale, the secured creditor may, but is not required to, invest
1052	them in a reasonable manner.
1053	52.312  Deed to successful bidder; affidavit.-
1054	(1)  Upon payment by the successful bidder of the full
1055	balance of the bid, the foreclosing creditor shall:
1056	(a)  Record and deliver a statutory warranty deed, a bill
1057	of sale with respect to personal property if applicable, and
1058	such other documents as may be necessary to record the deed,
1059	conveying the collateral to or as directed by the successful
1060	bidder.
1061	(b)  Execute and record in the public records of each
1062	county in which the security instrument being foreclosed was
1063	recorded an affidavit containing the following:
1064	1.  Identification of the security instrument foreclosed,
1065	including the official records book and page number, or official
1066	document number at which it was recorded, if any.
1067	2.  Identification the debtor.
1068	3.  A sufficient description of the collateral and
1069	identification of the official records book and page number, or
1070	official document number at which the notice of foreclosure was
1071	recorded.
1072	4.  Identification of persons to whom notice of foreclosure
1073	was given and the official records book and page number, or
1074	official document number at which documents reflecting their
1075	interests in the collateral were recorded, if any.
1076	5.  A statement as to which, if any, of the persons
1077	identified pursuant to subparagraph 4. were given special notice
1078	of foreclosure preserving their interests from termination by
1079	the foreclosure.
1080	6.  A statement that the foreclosing creditor has complied
1081	with all provisions of this chapter for a foreclosure by
1082	auction.
1083	7.  Identification of the person acquiring title to the
1084	collateral by virtue of the foreclosure, and a statement that
1085	title has passed to that person.
1086	(2)  When recorded, the deed and bill of sale, if any,
1087	transfer title to the collateral to or as directed by the
1088	successful bidder as provided in s. 52.602.
1089	Section 4.  Part IV of chapter 52, Florida Statutes,
1090	consisting of sections 52.401, 52.402, 52.403, 52.404, 52.405,
1091	and 52.406, is created to read:
1092	PART IV
1093	FORECLOSURE BY NEGOTIATED SALE
1094	52.401  Foreclosure by negotiated sale.-A secured creditor
1095	may elect to foreclose by negotiated sale. A secured creditor
1096	that elects to foreclose by negotiated sale shall comply with
1097	the requirements of this part and parts I, II, and VI.
1098	52.402  Advertisement and contract of sale.-
1099	(1)  The foreclosing creditor may advertise the collateral
1100	for sale to prospective purchasers by whatever methods the
1101	foreclosing creditor considers appropriate and may list the
1102	collateral for sale with brokers. The foreclosing creditor may,
1103	but is not required to, enter the real property collateral and
1104	post on it a sign containing information about the sale.
1105	(2)  The foreclosing creditor may enter into a conditional
1106	contract of sale with a prospective purchaser or, if the
1107	collateral is sold in parcels, with more than one purchaser. The
1108	contract shall state the gross amount, before expenses of sale,
1109	that the purchaser will pay for the collateral. The foreclosing
1110	creditor's obligation to sell under the contract is subject to
1111	the following conditions:
1112	(a)  That no objection to the foreclosure amount is made
1113	under s. 52.404.
1114	(b)  That no redemption of the collateral from the security
1115	interest is made before the time of foreclosure.
1116	52.403  Notice of proposed negotiated sale.-If a
1117	foreclosing creditor enters into a conditional contract of sale
1118	as provided in s. 52.402, the foreclosing creditor shall give
1119	notice of the proposed sale at least 30 days before the date of
1120	the proposed sale to the persons specified in s. 52.203. The
1121	notice of proposed sale must state:
1122	(1)  The date on or after which the foreclosing creditor
1123	proposes to sell the collateral.
1124	(2)  The foreclosure amount, net of all expenses of
1125	foreclosure and sale, that the foreclosing creditor offers to
1126	credit against the secured debt and distribute to other persons
1127	entitled thereto, which amount may be greater or less than the
1128	selling price stated in the contract.
1129	(3)  That if the sale is completed, title to the collateral
1130	will be transferred to the purchaser under the contract as of
1131	the time of foreclosure and the stated foreclosure amount will
1132	be applied as provided in s. 52.601.
1133	(4)  That the person receiving the notice may inspect a
1134	copy of the contract of sale by communicating with an individual
1135	who is or represents the foreclosing creditor and whose name,
1136	address, and telephone number are given in the notice.
1137	(5)  That if a debtor or any other party whose interest in
1138	the collateral is subordinate in priority to the foreclosing
1139	creditor's security interest objects to the sale, the debtor or
1140	interest holder may give the foreclosing creditor a notice so
1141	stating, and if the notice is received by the foreclosing
1142	creditor no later than 7 days before the date of the proposed
1143	sale, the foreclosing creditor must discontinue the foreclosure
1144	by negotiated sale unless the foreclosing creditor elects to
1145	preserve that person's interest from termination by the
1146	foreclosure or discharges the person's interest.
1147	52.404  Completion of sale.-
1148	(1)  A foreclosing creditor may complete the sale in
1149	accordance with the contract of sale, subsection (2), and ss.
1150	52.405 and 52.406 unless the creditor receives a notice
1151	objecting to the proposed foreclosure by negotiated sale 7 or
1152	more days before the proposed date of sale from a person who
1153	holds an interest in the real property collateral that is
1154	subordinate in priority to the foreclosing creditor's security
1155	interest.
1156	(2)  Upon compliance by the purchaser with a contract for
1157	sale under this part, on or after the proposed date of sale, the
1158	foreclosing creditor shall deliver to the purchaser or a nominee
1159	designated by the purchaser a statutory warranty deed, a bill of
1160	sale if applicable, and other documents necessary to consummate
1161	the sale or that the parties agreed the foreclosing creditor
1162	would supply. The foreclosing creditor shall also execute an
1163	affidavit containing the following:
1164	(a)  Identification of the security instrument foreclosed,
1165	including the official records book and page number or official
1166	document number at which it was recorded, if any.
1167	(b)  Identification of the debtor.
1168	(c)  A sufficient description of the collateral and
1169	identification of the official records book and page number, or
1170	official document number at which the notice of foreclosure was
1171	recorded.
1172	(d)  Identification of persons to whom notice of
1173	foreclosure was given and the official records book and page
1174	number, or official document number at which documents
1175	reflecting their interests in the collateral are recorded, if
1176	any.
1177	(e)  A statement as to which, if any, of the persons
1178	identified pursuant to paragraph (d) were given notice under s.
1179	52.203(5) or s. 52.406(1)(a) preserving their interests from
1180	termination by the foreclosure.
1181	(f)  A statement that the foreclosing creditor has complied
1182	with all provisions of this chapter for a foreclosure by
1183	negotiated sale.
1184	(g)  Identification of the person acquiring title to the
1185	collateral by virtue of the foreclosure, and a statement that
1186	title has passed to that person.
1187	52.405  Recording of affidavit and deed; application of
1188	foreclosure amount.-On or after the date of delivery of the
1189	deed, the affidavit, deed, and bill of sale, if any, required
1190	under s. 52.404 must be recorded in public records of the county
1191	or counties where the collateral is located. When the affidavit,
1192	deed, and bill of sale, if any, are recorded, the deed and bill
1193	of sale transfer title to the collateral to the contract
1194	purchaser or a nominee designated by the contract purchaser as
1195	provided in s. 52.602. The foreclosure amount stated in the
1196	notice of proposed negotiated sale pursuant to s. 52.403(2) must
1197	be applied as provided in s. 52.601 within 30 days after the
1198	time of foreclosure.
1199	52.406  Notice of objection to sale.-
1200	(1)  If, 7 or more days before the proposed date of sale
1201	under this part, a foreclosing creditor receives notice of
1202	objection to the sale from any person who holds an interest in
1203	the real property collateral subordinate in priority to the
1204	foreclosing creditor's security interest, the foreclosing
1205	creditor must:
1206	(a)  Discontinue the foreclosure pursuant to s. 52.701, in
1207	which case the notice of objection has no further effect;
1208	(b)  Give notice, before the time of foreclosure, to the
1209	person who made the objection that the person's interest in the
1210	collateral will be preserved from termination by the
1211	foreclosure. If the foreclosing creditor gives such notice:
1212	1.  The objection of the person to whom such notice is
1213	given may be disregarded by the foreclosing creditor;
1214	2.  The foreclosure by negotiated sale may be completed;
1215	3.  The affidavit recorded under s. 52.405 must identify
1216	that interest in the collateral of the person objecting as not
1217	being terminated by the foreclosure; and
1218	4.  That person is entitled to none of the foreclosure
1219	amount; or
1220	(c)  If the interest of the person who made the objection
1221	is capable of being discharged for a liquidated sum of money,
1222	tender that sum, or a lesser sum acceptable to the person whose
1223	interest is being discharged, to the person and thereby
1224	discharge the interest.
1225	(2)  If the foreclosing creditor makes a tender as provided
1226	in paragraph (1)(c) and keeps the tender in effect, the person
1227	to whom the tender is made must provide the foreclosing creditor
1228	with a suitable document in recordable form evidencing that the
1229	person's interest has been discharged.
1230	(3)  After expiration of the time for objection specified
1231	in s. 52.404(1), a person to whom notice of foreclosure under s.
1232	52.203 and notice of proposed sale under s. 52.403 were sent may
1233	not assert that the foreclosure amount was inadequate.
1234	Section 5.  Part V of chapter 52, Florida Statutes,
1235	consisting of sections 52.501, 52.502, 52.503, 52.504, 52.505,
1236	and 52.506, is created to read:
1237	PART V
1238	FORECLOSURE BY APPRAISAL
1239	52.501  Foreclosure by appraisal.-A secured creditor may
1240	elect to foreclose by appraisal. A secured creditor that elects
1241	to foreclose by appraisal shall comply with the requirements of
1242	this part and parts I, II, and VI.
1243	52.502  Appraisal.-
1244	(1)  The foreclosing creditor shall obtain a written
1245	appraisal of the collateral. The debtor and other persons in
1246	possession of the real property collateral must provide
1247	reasonable access to the real property to the appraiser. The
1248	appraisal report shall state the appraiser's conclusion as to
1249	the fair market value of the collateral as of a date not more
1250	than 60 days before the date of foreclosure stated in the notice
1251	of foreclosure.
1252	(2)  The appraisal must be made by an independent appraiser
1253	certified by the Appraisal Institute who is not an employee or
1254	affiliate of the foreclosing creditor.
1255	52.503  Notice of appraisal.-The foreclosing creditor shall
1256	give notice of the appraisal at least 30 days before the
1257	proposed date of the foreclosure to the persons specified in s.
1258	52.203. The notice of appraisal shall be accompanied by a copy
1259	of the appraisal report and shall state:
1260	(1)  The date on or after which the foreclosing creditor
1261	proposes to foreclose by appraisal.
1262	(2)  The foreclosure amount, net of all expenses of
1263	foreclosure, that the foreclosing creditor offers to credit
1264	against the secured obligation and to distribute to other
1265	persons entitled thereto, which amount may be greater or less
1266	than the appraised value of the collateral.
1267	(3)  That if the foreclosure by appraisal is completed,
1268	title to the collateral will vest in the foreclosing creditor or
1269	its nominee as of the time of foreclosure, and that the stated
1270	foreclosure amount will be applied as provided in s. 52.601.
1271	(4)  That the person receiving the notice may obtain
1272	further information concerning the foreclosure and the appraisal
1273	by communicating with an individual who is or represents the
1274	foreclosing creditor and whose name, address, and telephone
1275	number are given in the notice.
1276	(5)  That if a debtor or interest holder whose interest in
1277	the collateral is subordinate in priority to the foreclosing
1278	creditor's security interest objects to the foreclosure by
1279	appraisal, the debtor or interest holder may give the
1280	foreclosing creditor a notice so stating, and if the notice is
1281	received by the foreclosing creditor no later than 7 days before
1282	the date of the proposed sale, the foreclosing creditor must
1283	discontinue the foreclosure by appraisal unless the foreclosing
1284	creditor elects to preserve that person's interest from
1285	termination by the foreclosure or discharges the person's
1286	interest.
1287	52.504  Completion of foreclosure by appraisal.-
1288	(1)  A foreclosing creditor may complete the foreclosure as
1289	provided in subsection (2) and ss. 52.505 and 52.506 unless the
1290	creditor receives a notice objecting to the proposed foreclosure
1291	by negotiated sale 7 or more days before the proposed date of
1292	sale from a person who holds an interest in the real property
1293	collateral that is subordinate in priority to the foreclosing
1294	creditor's security interest.
1295	(2)  On or after the proposed date of sale, the foreclosing
1296	creditor shall record a statutory warranty deed in the public
1297	records and shall also execute an affidavit containing the
1298	following:
1299	(a)  Identification of the security instrument foreclosed,
1300	including the official records book and page number, or official
1301	document number at which it was recorded, if any.
1302	(b)  Identification of the debtor.
1303	(c)  A sufficient description of the collateral and
1304	identification of the official records book and page number, or
1305	official document number at which the notice of foreclosure was
1306	recorded.
1307	(d)  Identification of persons to whom notice of
1308	foreclosure was given and the official records book and page
1309	number, or official document number at which documents
1310	reflecting their interests in the collateral are recorded, if
1311	any.
1312	(e)  A statement as to which, if any, of the persons
1313	identified pursuant to paragraph (d) were given notice under s.
1314	52.203(5) or s. 52.506(1)(a) preserving their interests from
1315	termination by the foreclosure.
1316	(f)  A statement that the foreclosing creditor has complied
1317	with all provisions of this chapter for a foreclosure by
1318	appraisal.
1319	(g)  Identification of the person acquiring title to the
1320	collateral by virtue of the foreclosure, and a statement that
1321	title has passed to that person.
1322	52.505  Recording of affidavit; application of foreclosure
1323	amount.-On or after the proposed date of foreclosure, the
1324	affidavit required by s. 52.504 must be recorded in the public
1325	records of the county or counties in which the collateral is
1326	located. When recorded, the affidavit transfers title to the
1327	collateral to the foreclosing creditor or its nominee as
1328	provided in s. 52.602. The foreclosure amount stated in the
1329	notice of appraisal pursuant to s. 52.503(2) must be applied as
1330	provided in s. 52.601 within 30 days after the time of
1331	foreclosure.
1332	52.506  Notice of objection to foreclosure.-
1333	(1)  If, 7 or more days before the proposed date of
1334	foreclosure under this part, a foreclosing creditor receives
1335	notice of objection to the foreclosure from any person who holds
1336	an interest in the real property collateral subordinate in
1337	priority to the foreclosing creditor's security interest, the
1338	foreclosing creditor must:
1339	(a)  Discontinue the foreclosure pursuant to s. 52.701, in
1340	which case the notice of objection has no further effect;
1341	(b)  Give notice, before the time of foreclosure, to the
1342	person who made the objection that the person's interest in the
1343	collateral will be preserved from termination by the
1344	foreclosure. If the foreclosing creditor gives such notice:
1345	1.  The objection of the person to whom such notice is
1346	given may be disregarded by the foreclosing creditor;
1347	2.  The foreclosure by appraisal may be completed;
1348	3.  The affidavit recorded under s. 52.505 must identify
1349	that interest in the collateral of the person objecting as not
1350	being terminated by the foreclosure; and
1351	4.  That person is entitled to none of the foreclosure
1352	amount; or
1353	(c)  If the interest of the person who made the objection
1354	is capable of being discharged for a liquidated sum of money,
1355	tender that sum to the person and thereby discharge the
1356	interest.
1357	(2)  If the foreclosing creditor makes a tender as provided
1358	in subsection (1)(c) and keeps the tender in effect, the person
1359	to whom the tender is made must provide the foreclosing creditor
1360	with a suitable document in recordable form evidencing that the
1361	person's interest has been discharged.
1362	(3)  After expiration of the time for objection specified
1363	in s. 52.504(1), a person to whom notice of foreclosure under s.
1364	52.203 and notice of appraisal under s. 52.503 were sent may not
1365	assert that the foreclosure amount was inadequate.
1366	Section 6.  Part VI of chapter 52, Florida Statutes,
1367	consisting of sections 52.601, 52.602, 52.603, 52.604, 52.605,
1368	52.606, and 52.607, is created to read:
1369	PART VI
1370	RIGHTS AFTER FORECLOSURE
1371	52.601  Application of proceeds of foreclosure.-
1372	(1)  The foreclosing creditor shall apply the proceeds of
1373	foreclosure and any investment earnings thereon in the following
1374	order:
1375	(a)  To pay or reimburse the expenses of foreclosure in the
1376	case of a foreclosure by auction.
1377	(b)  To pay the obligation secured by the foreclosed
1378	security instrument.
1379	(c)  To pay, in the order of their priority, the amounts of
1380	all liens and other interests of record terminated by the
1381	foreclosure.
1382	(d)  To the interest holder who owned the collateral at the
1383	time of foreclosure.
1384	(2)  If the foreclosing creditor, in applying the proceeds
1385	of the sale, acts in good faith and without actual knowledge of
1386	the invalidity or lack of priority of the claim of a person to
1387	whom distribution is made, the foreclosing creditor is not
1388	liable for an erroneous distribution. The foreclosing creditor
1389	may maintain an action in the nature of interpleader, in a court
1390	of competent jurisdiction sitting in a county in which some part
1391	of the real estate collateral is located, for an order directing
1392	the order of distribution of the proceeds of the sale.
1393	52.602  Title transferred by foreclosure.-A foreclosure
1394	under this chapter transfers the debtor's title to the
1395	collateral to the successful bidder under part III, the contract
1396	purchaser under part IV, or the foreclosing creditor under part
1397	V, subject only to interests in the collateral having priority
1398	over the security interest foreclosed and the interests of
1399	persons entitled to notice under s. 52.202(3) who were not given
1400	notice of the foreclosure or whose interests were preserved from
1401	foreclosure by notice issued under s. 52.203(5), s.
1402	52.406(1)(b), or s. 52.506(1)(b). The interests of all of other
1403	persons in the collateral are terminated.
1404	52.603  Action for damages or to set aside foreclosure.-
1405	(1)  Subject to subsection (3), after the time of
1406	foreclosure an aggrieved person may commence a proceeding in a
1407	court of competent jurisdiction seeking the following relief:
1408	(a)  Damages against a foreclosing creditor for any
1409	violation of this chapter or an applicable law or principle of
1410	equity in the conduct of the foreclosure; or
1411	(b)  That the foreclosure be set aside to correct a
1412	violation of this chapter or to satisfy an applicable law or
1413	principle of equity.
1414	(2)  Recording of the deed and affidavit pursuant to s.
1415	52.312, the deed and affidavit pursuant to s. 52.405, or the
1416	affidavit pursuant to s. 52.505 conclusively establishes
1417	compliance with all applicable notice and procedural
1418	requirements of this chapter in favor of good faith purchasers
1419	for value of the collateral. If the title derived from
1420	foreclosure is not held by a good faith purchaser for value, a
1421	person attacking the foreclosure on grounds of noncompliance
1422	with the notice or procedural requirements of this chapter has
1423	the burden of production and persuasion.
1424	(3)  An action may not be commenced:
1425	(a)  For damages for violation of this chapter, more than 3
1426	years after the time of foreclosure; or
1427	(b)  For an order to set aside a foreclosure conducted
1428	under this chapter, more than 1 year after the time of
1429	foreclosure.
1430	52.604  Possession after foreclosure.-A person that
1431	acquires an interest in real property by foreclosure under this
1432	chapter may obtain a writ of possession from the clerk of the
1433	court of the county in which any part of the collateral is
1434	located, or commence an action for ejectment under chapter 66 or
1435	for unlawful detainer under chapter 82 to gain possession of the
1436	real property against any person whose interest in the real
1437	property was terminated by the foreclosure.
1438	52.605  Judgment for deficiency.-
1439	(1)  Except as provided in subsection (2), after the time
1440	of foreclosure, the foreclosing creditor and any other person
1441	whose security interest in the collateral was terminated by a
1442	foreclosure under this chapter is entitled to pursue in court a
1443	money judgment against any person liable for a deficiency.
1444	(2)  A debtor is not liable to a foreclosing creditor for a
1445	deficiency after a foreclosure under this chapter unless the
1446	debtor is found by the court not to have acted in good faith.
1447	(3)  For purposes of this section, the term "acted in good
1448	faith" means the debtor:
1449	(a)  Peaceably vacated the real estate collateral and
1450	relinquished any personal property collateral within 10 days
1451	after the time of foreclosure and the giving of a notice
1452	demanding possession by the person entitled to possession by
1453	virtue of the foreclosure.
1454	(b)  Did not commit significant affirmative waste upon the
1455	collateral and leave such waste uncured at the time possession
1456	was relinquished to the person entitled to possession by virtue
1457	of the foreclosure.
1458	(c)  Did not significantly contaminate the collateral with
1459	hazardous materials and leave the contamination uncured at the
1460	time possession was relinquished to the person entitled to
1461	possession by virtue of the foreclosure.
1462	(d)  Did not commit fraud against the foreclosing creditor.
1463	(e)  Did not engage in criminal activity on the secured
1464	real estate collateral that significantly reduced its value at
1465	the time possession was relinquished to the person entitled to
1466	possession by virtue of the foreclosure.
1467	(f)  Did not permit significant uncured damage to be done
1468	to the collateral by other persons or natural causes as a result
1469	of the debtor's failure to take reasonable precautions against
1470	the damage.
1471	(g)  Provided reasonable access to the collateral for
1472	inspection by the foreclosing creditor and prospective
1473	purchasers after the initial notice of foreclosure was sent.
1474	(4)  The burden of proof as to the absence of good faith on
1475	the part of a debtor is on the person seeking a deficiency
1476	judgment against the debtor. The absence of good faith by one
1477	debtor does not make any other debtor liable for a deficiency.
1478	(5)  If liability of a debtor for a deficiency is barred by
1479	paragraph (2), liability of a guarantor of the debtor's
1480	obligation is also barred.
1481	(6)  This section does not prohibit recovery of a
1482	deficiency by a person other than the foreclosing creditor.
1483	52.606  Determining amount of deficiency.-
1484	(1)  Subject to subsection (2), the deficiency to which a
1485	foreclosing creditor is entitled after a foreclosure under this
1486	chapter is the balance remaining, if any, after subtracting the
1487	foreclosure amount as determined under s. 52.311, s. 52.403, or
1488	s. 52.503, as applicable, from the balance owing on the secured
1489	obligation, including principal, interest, legally recoverable
1490	fees and charges and, in the case of a foreclosure by auction,
1491	the expenses of foreclosure.
1492	(2)  In an action for a deficiency brought by the
1493	foreclosing creditor following a foreclosure by auction, a
1494	person against whom the action is filed may petition a court of
1495	competent jurisdiction for a determination of the fair market
1496	value of the collateral at the time of foreclosure. After a
1497	hearing at which all interested parties may present evidence of
1498	fair market value, the court shall determine the fair market
1499	value of the collateral as of the time of foreclosure. The
1500	determination must be made by the court without a jury. If the
1501	court determines that 90 percent of the fair market value of the
1502	collateral was greater than the bid accepted at the foreclosure
1503	sale, 90 percent of the fair market value must be substituted
1504	for the foreclosure amount in making the calculations required
1505	by subsection (1) with respect to all parties against whom a
1506	judgment for a deficiency is entered.
1507	52.607  Effect of good faith by debtor.-If a debtor acted
1508	in good faith in the foreclosure as provided in s. 52.605(3),
1509	the debtor shall not be considered to have been in default under
1510	the note or security instrument and the foreclosing creditor
1511	shall use its best efforts thereafter to report to credit
1512	bureaus the fact that the debtor, having acted in good faith, is
1513	deemed not to be in default under Florida Law. This section does
1514	not invalidate any foreclosure pursuant to this chapter or any
1515	judgment in a case related to this chapter. This section does
1516	not affect the title or insurability of title to real property
1517	or personal property.
1518	Section 7.  Part VII of chapter 52, Florida Statutes,
1519	consisting of section 52.701, is created to read:
1520	PART VII
1521	DISCONTINUATION OF FORECLOSURE
1522	52.701  Discontinuation of foreclosure.-
1523	(1)  A foreclosing creditor may elect to discontinue
1524	foreclosure at any time before:
1525	(a)  The completion of the auction in the case of a
1526	foreclosure by auction; or
1527	(b)  The time of foreclosure, in the case of a foreclosure
1528	by negotiated sale or by appraisal.
1529	(2)  To discontinue foreclosure, the foreclosing creditor
1530	shall give notice to the persons to whom notice of foreclosure
1531	was required to be given under s. 52.203(2), advising them that
1532	the foreclosure has been discontinued and whether the
1533	foreclosing creditor will:
1534	(a)  Pursue another foreclosure by the same method;
1535	(b)  Continue to foreclose by another method under this
1536	chapter pursuant to a notice of foreclosure previously given;
1537	(c)  Commence foreclosure by a different method authorized
1538	by this chapter pursuant to a new notice of foreclosure;
1539	(d)  Commence foreclosure by judicial proceeding; or
1540	(e)  Abandon the foreclosure.
1541	(3)  If a foreclosing creditor chooses to discontinue
1542	foreclosure under this chapter and pursue foreclosure by
1543	judicial proceeding:
1544	(a)  A deficiency judgment may not be obtained through such
1545	judicial proceeding against any debtor receiving an original
1546	notice of foreclosure pursuant to this chapter.
1547	(b)  Upon commencing a judicial proceeding, the limitations
1548	on liability provided in s. 718.116(1)(b) and s. 720.3085(2)(c)
1549	shall not apply. In all other aspects of foreclosure pursuant to
1550	this chapter, such limitations on liability shall be applicable
1551	to the same extent as if the foreclosure had been filed pursuant
1552	to s. 45.031 or chapter 702.
1553	(4)  If a notice sent by a foreclosing creditor under this
1554	section includes all elements required for a notice of
1555	foreclosure under ss. 52.203 and 52.204, no additional notice of
1556	foreclosure is necessary to pursue a further foreclosure under
1557	this chapter.
1558	Section 8.  Part VIII of chapter 52, Florida Statutes,
1559	consisting of sections 52.801, 52.802, and 52.803, is created to
1560	read:
1561	PART VIII
1562	MISCELLANEOUS
1563	52.801  Uniformity of application and construction.-In
1564	applying and construing this chapter, consideration must be
1565	given to the need to promote uniformity of the law with respect
1566	to its subject matter among states that enact its provisions.
1567	52.802  Relation to Electronic Signatures in Global and
1568	National Commerce Act.-This chapter modifies, limits, and
1569	supersedes the federal Electronic Signatures in Global and
1570	National Commerce Act, 15 U.S.C. ss. 7001 et seq., except that
1571	nothing in this chapter modifies, limits, or supersedes 15
1572	U.S.C. s. 7001(c) or authorizes electronic delivery of any of
1573	the notices described in 15 U.S.C. s. 7003(b).
1574	52.803  Calculation of documentary stamp taxes.-For the
1575	purposes of this chapter, the documentary stamp taxes required
1576	under chapter 201 shall be assessed based on the following
1577	values:
1578	(1)  For foreclosure by auction, the foreclosure amount
1579	defined in s. 52.311;
1580	(2)  For foreclosure by negotiated sale, the gross amount
1581	of the sale described in s. 52.402(2); or
1582	(3)  For foreclosure by appraisal, the fair market value
1583	determined by the appraisal as described in s. 52.502.
1584	Section 9.  Section 702.01, Florida Statutes, is amended to
1585	read:
1586	702.01  Equity.-All mortgages foreclosed though judicial
1587	process shall be foreclosed in equity. In a judicial mortgage
1588	foreclosure action, the court shall sever for separate trial all
1589	counterclaims against the foreclosing mortgagee. The foreclosure
1590	claim shall, if tried, be tried to the court without a jury.
1591	This section does not require a foreclosure to be pursued
1592	through judicial process or prohibit a foreclosure through
1593	nonjudicial process.
1594	Section 10.  This act shall take effect July 1, 2010.

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