suffers a complete failure of consideration invalidating the mortgage in its entirety. Since no funds were advanced by the Murphys pursuant to mortgage number one there are no sums to be reimbursed to them thereunder and there being no debt there can be no valid mortgage lien. silver waters Corp. v. Murphy, 177 So.2d 897, 899 (Fla. 2d DCA 1965).
Equitable mortgages originate in English Common Law and may lack some legal formalities.. In an equitable mortgage the lender is secured by taking possession of all the original title documents of the property and by borrower’s signing a Memorandum of Deposit of Title Deed (MODTD).
DOCTRINE OF EQUITABLE MORTGAGES Marshall’" (a case where the doctrine was not involved). In the more recent case of Bullowa v. Orgo " a different matter is involved. It was there held that the deposit of title deeds in pledge for the payment of -a debt until a legal mortgage should be executed, under an oral agreement,
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The Florida Department of Financial Services, acting as receiver for GIC, filed its March lawsuit against Mariano over a loan the company allegedly made to him in 2014. The regulator seeks to attach.
Learn about Property Distribution In Florida. Florida Divorce Law On Property Distribution; Equitable Distribution. The mortgage has been paid down during.
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.
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.
· 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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Law360 (June 29, 2018, 11:27 PM EDT) — Wells Fargo escaped a Fair Housing Act lawsuit from Miami Gardens, Florida, on Friday when a federal. judgment and dismiss the city of Miami Gardens’.