Statute of Limitations to Foreclose
Protecting Land Borrowers and Owners
Are you a borrower or a land owner that is facing mortgage foreclosure? At Solove Law Firm, our Miami real estate attorneys want you to be aware of the laws regarding the Statute of Limitations, which may lead to the dismissal of any foreclosures sought by lenders. If you need legal representation in a foreclosure matter, we can provide tailored and dynamic counsel backed by 30 years of experience.
Schedule your initial consultation with Solove Law Firm, to learn more about the statute of limitations on foreclosure mortgages.
Limitations on Filing Foreclosures
In Florida, a lender who is seeking a foreclosure must first receive court approval by filing a claim with the local circuit court. This process is a trial by judge in which the property owner has the chance to challenge the foreclosure. The statute of limitations, or the amount of time within which a claim can be filed, for foreclosures is five years. Outside of this statute, any lawsuits for foreclosures will be dismissed.
Some courts in the state of Florida have ruled that when a lender files a foreclosure, loses the lawsuit, and fails to file another claim within five years of the first suit, the lender will no longer be able to pursue a foreclosure on the property. This may mean that a business or resident occupying a property can continue to do so without paying a mortgage after the statute of limitations has passed.
What does this mean for your business?
To discuss the statute of limitations for foreclosures and what it could mean for your real estate investments, schedule a consultation with our Miami real estate attorneys. We offer comprehensive and cost-effective legal solutions to help you protect the interests of your company. Solove Law Firm employs bilingual staff and represents Fortune 500 companies and businesses throughout Florida, the country, and internationally.
Call (305) 440-1567 to begin discussing your business’ real estate litigation needs.