Equitable subrogation allows a party discharging another party’s debt to step into the shoes of the creditor who held the discharged debt. In the context of mortgages, it is generally the law in Florida that the first mortgagee has priority to any subsequent creditors, including other mortgagees.
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Equitable tolling applies in criminal and civil proceedings, including in removal proceedings under the Immigration and Nationality Act (INA). Equitable tolling is a common principle of law stating that a statute of limitations shall not bar a claim in cases where the plaintiff, despite use of due diligence, could not or did not discover the injury until after the expiration of the limitations.
Applying the merger doctrine to the mortgage context, when the mortgagee acquires legal title to the subject property by way of foreclosure, the mortgage lien merges with the legal title, and the lien is extinguished as a matter of law. See Citizens State Bank of New Castle v.
Under the doctrine of equitable conversion, the risk of loss of realty passes to the buyer as soon as a contract of sale is executed between the buyer and seller. But there is an additional point worth noting.. Florida Bar Exam Essentials Volume 1 is now available for immediate download here.
The doctrine of equitable subrogation, particularly as applied to priority of mortgage liens, has long been a tool used by real property litigators seeking to rectify or mitigate priority issues caused by defectively executed or recorded mortgages.
IRS regulation 1.163-1(b) reads as follows: "Interest paid by the taxpayer on a mortgage upon real estate of which he is the legal or equitable owner. I recently purchased a house in Florida and.
Yesterday news broke from green brick partners, Inc. (Nasdaq: GRBK) announced that GHO Homes, a private home builder on Florida’s Treasure. a Missouri-based independent mortgage bank, is joining.
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PwC also signed off on Colonial’s audit without ever understanding the third and most complex iteration of the fraud, which involved a credit facility based on phantom mortgage securitizations.