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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";
color:black">We agree with many of the comments/criticism already mentioned. In case, you would like our specific comments and proposed revisions, see attached and following.
Thanks.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";
color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">(1)(a) should be more specific that it only applies in cases involving foreclosure of residential mortgages.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">In (b)(1),(2) and (3), “before the certificate of title was issued” should be changed to “before the recording of a lis pendens in the foreclosure action by which the certificate of title is issued or before
the certificate of title was issued, whichever is earlier…”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">>>As currently written, the statute encourages fraudulent long-term leases. I know the revised federal act referred to issuance of the certificate of title, but my understanding is that act expires 12/31 of this
year (perhaps expiration of the federal act is the impetus for this statute).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Subsection (3) should be revised to require a credit only for deposits or advanced rent paid to the lender by the prior owner and to give tenants a cause of action against the prior owner for any deposits or
advanced rent paid to the prior owner and not turned over to the purchaser at the foreclosure sale, plus the tenant’s costs and attorneys’ fees.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">>>As currently written, subsection (3) imposes unknown liability upon foreclosing lenders. Why should a foreclosing lender have to credit a tenant for funds the lender never received?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">The statute, as currently written, also deprives lenders of their contractual rights (including the law as it existed at that time since the law as it exists on the date of a contract is deemed a part of the
contract) as they existed when the mortgage was signed. The Federal constitution does not have a provision prohibiting the impairment of contract rights as the Florida Constitution does. As a result, the Florida Act would only be constitutionally applied to
foreclosure of mortgages executed after the date of the Act (or perhaps after the date of the federal Protecting Tenants at Foreclosure Act as that law arguably became part of any mortgage executed after the enactment of the federal act).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";
color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";
color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";
color:black"><img width="190" height="53" id="_x0000_i1025" src="cid:image001.png@01D00FD2.7A8A57E0" alt="Carlton Fields Jorden Burt, P.A."></span></b><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><br>
</span></b><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";
color:black">Henry Wulf</span></b><span style="font-size:10.0pt;font-family:
"Arial","sans-serif";color:black"><br>
Attorney at Law<br>
<br>
CityPlace Tower<br>
525 Okeechobee Blvd., Ste. 1200<br>
West Palm Beach, Florida 33401-6350 <br>
Direct: 561.650.8042 | Fax: 561.659.7368<br>
<br>
<a href="mailto:HWulf@cfjblaw.com"><span style="color:blue">HWulf@cfjblaw.com</span></a> | <a href="http://www.CFJBLaw.com"><span style="color:blue">www.CFJBLaw.com</span></a>
<br>
<a href="http://www.cfjblaw.com/hwulf/"><span style="color:blue">bio</span></a> |
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<span style="color:blue">vcard</span></a> | <a href="http://www.linkedin.com/pub/henry-wulf/a/66/828">
<span style="color:blue">LinkedIn</span></a> <br>
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color:black">Confidential: This e-mail contains a communication protected by the attorney-client privilege or constitutes work product. If you do not expect such a communication please
delete this message without reading it or any attachment and then notify the sender of this inadvertent delivery.</span></i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">
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