REAL PROPERTY UPDATE

  • Condominium Association/Injunction:  tenants’ act of moving out of condominium unit after condominium association filed action against them for injunctive relief, eviction, and ejectment did not divest circuit court of jurisdiction  – Shteyn v. Grandview Palace Condo. Ass’n, No. 3D14-1910 (Fla. 3d DCA Sept. 24, 2014) (denying petition for writ of prohibition)
  • Foreclosure/Summary Judgment:  summary judgment dismissing foreclosure  for failure to meet condition procedure by failing to comply with HUD  regulations was entered in error where foreclosing plaintiff filed sworn interrogatory answers alleging compliance with loss mitigation requirements of HUD regulations – Real Estate Mortg. Network, Inc. v. Knight, No. 4D13-1880 (Fla. 4th DCA Sept. 24, 2014) (reversing final summary judgment)
  • Quiet Title/Res Judicata:  despite adjudication on merits in prior action to foreclose mortgage, res judicata did not render mortgage unenforceable by precluding enforcement actions on subsequent defaults; thus, trial court erred in quieting title to bank’s valid and enforceable mortgage – 2013-SFR Venture, LLC v. Garcia, No. 4D13-1992 (Fla. 4th DCA Sept. 24, 2014) (reversing final judgment quieting title)
  • Discovery: personal financial information of a plaintiff is not relevant for discovery where the plaintiff is only seeking damages related to property value and not compensatory damages. – Mana v. Cho, No. 3D14-1318 (Fla. 3rd DCA October 1, 2014) (Petition granted in part; discovery order quashed in part)
  • Sequestration of Rents: trial court’s error in interpreting a statute or contract to sequester rents is not a “fundamental error” warranting reversal. – Terant v. Beltway Capital, LLC, No. 3D14-302 (Fla. 3rd DCA October 1, 2014) (affirming order granting sequestration of rents)
  • Foreclosure/Condition Precedent: summary Judgment reversed where default letter attached to the motion for summary judgment was not properly authenticated. – Freiday v. OneWest Bank, FSB, No. 4D13-1155 (Fla. 4th DCA October 1, 2014) (reversed and remanded)

FINANCIAL SERVICES UPDATE - NONE

TITLE INSURANCE UPDATE

  • Measure of Damages: difference in value to title to the property as insured and subject to easement is the measure of damage under a title insurance policy and not the cost of removing a gas main from the easement – Weber Estates Investments, LLC v. Chicago Title Ins. Co., Case No. 4-13-0892 (Ill. App. Sept. 25, 2014) (affirming summary judgment).
  • Coverage: insurer’s declaratory judgment action as to coverage is not an action for which insured’s law firm may be liable and thus third party complaint should have been dismissed – Fidelity Nat. Title Ins. Co. v. Altshuler Shaham Provident Funds Ltd., Case No. 06371 (N.Y. App. Sept. 25, 2014) (reversing order consolidating cases and instructing clerk to enter dismissal of third party complaint).
  • Subrogation: when a title insurer makes payment under a policy in order to facilitate a settlement, it assumes all of the rights, claims and remedies of the insured pursuant to the policy and basic principles of subrogation – F.D.I.C. v. Nevada Title Co., Case No. 2-13-cv-00606 (D. Nev. Sept. 25, 2014) (order substituting party plaintiff).
  • Access: certifying for appeal ruling that, where insurer negotiates a revocable 30 year right of access for insured, there is no coverage under a title insurance policy for lack of access or unmarketability of title – Fidelity National Title Ins. Co. v. Woody Creek Ventures, LLC, Case No. 13-cv-01289 (D. Colo. Sept. 17, 2014) (order reversing denial of request to certify prior order and certifying order for immediate appeal).
  • Marketability: determining that the difference in value of the title as insured and the value of the title subject to the risk insured against by the loan policy of title insurance is equivalent to the property’s fair market value because title was not marketable in light of prior mortgage insured – First Community Bank v. Commonwealth Land Title Ins. Co., Case No. 3:-13-cv-00699 (M.D. La. Sept. 19, 2014) (granting in part motions for cross summary judgment and entering final judgment).