HB 35

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

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