The Florida 5-Year Statute of Limitation Foreclosure Rule is Complex

Hi, this is Foreclosure and Real Estate Defense Attorney, Roy Oppenheim, From the Trenches. I want to talk a little bit about the five-year statute of limitations in Florida because it’s an issue that’s in flux. I have previously blogged about it, I have done videos about it, and it is continuing to be a moving target.

In the past, we said that folks had five years, the banks had five years to actually bring an action against you from the time that they had accelerated the debt. Typically, they’d either send you a letter accelerating the debt, or, in the alternative, they would file a foreclosure suit, and that would begin the five years. If in fact, that case was dismissed or if, in fact, you were victorious against the bank for whatever reason, maybe it was standing, maybe they lost the note, for whatever reason, maybe their witness didn’t show up at trial, for whatever the reason, if you got that case dismissed, they had five years from the time they originally brought that suit.

Well, one of the circuit courts now, appellate courts here in Florida has said that that five-year rule may not be exactly right and that it should be five years from the time you made the last payment, but we’re not sure, and so we think the Florida Supreme Court should get involved because this is a major issue of public policy, of concern to, really, everyone in Florida who owns, buys, sells real estate.

And so, the issue is in flux. The five-year statute of limitations is complex. We are on it, we’re on top of it, and we’re here to advise you if you have any questions. So, should you be in a situation where your foreclosure is being dismissed, was dismissed, and you’re past the five years, I suggest you don’t assume anything but get proper legal advice. Roy Oppenheim, From the Trenches, have a great day.