Category Archives: Judgments

JUDGMENT INTEREST RATES – PARTY LIKE IT IS 2009!

As we have been updating on this blog over the past several years, Florida’s Interest Rates on Judgments is announced every quarter.  Over the past several quarters, interest rates have little by little steadily climbed.  Every quarter they are updated, either up, down, or they may remain the same.

 

As of this past Monday, October 1st, 2018, the new interest rate on judgments is now 6.09%.  This is the highest interest rate we have seen in Florida since December 31st, 2009, at which time rates were at 8%, and they steadily went down.

 

Eric N. Assouline, Esq.

Assouline & Berlowe, P.A.

www.assoulineberlowe.com

Miami – Ft. Lauderdale – Boca Raton

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Florida Foreclosure Surplus: Supreme Court Clarifies Deadline to Make a Claim

foreclosure surplus

On September 6, 2018, the Supreme Court of Florida, reconciled a conflict that existed between the appellate district courts of the state, as to when was the trigger date for filing a claim to a surplus from a foreclosure sale.  In the case styled as the Bank of New York Mellon v. Glenville, a dispute arose between the former owners of certain real property at foreclosure and a junior lienholder over who was entitled to a portion of surplus funds resulting from a judicial foreclosure sale of the property formerly owned by the former owner.  In Glenville, Florida’s high court held that the requirement, which is governed by the Florida Statute, which states that a claim to payment of any surplus funds from a foreclosure sale must be filed with the clerk of the court within sixty days after the sale begins upon the clerk’s issuance of the certificate of disbursements.  Two Florida district courts of appeals’ positions were vacated and/or quashed as a result of the Glenville decision, which now clarifies the deadline statewide.

ERIC N. ASSOULINE, ESQ.

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5.72% – New Interest Rate for Judgments in Florida

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As we have mentioned in prior Blog posts, every quarter of the year, Florida reassesses the interest rate that must be charged on judgments in the State of Florida.

What is interesting is that Florida’s statutory interest rate is, little by little, or not so much, creeping up.   Just in the last year, the interest rate has gone up by .67 basis points.

See a chart below with the gradual increase, just in the last 12 months.

April 1, 2018 Judgment

Notably, any prejudgment claim to interest is also governed by this statute.  So, claims that are pending for years have appreciated in value just by the nature of the increase in the statutory interest rates.

Eric N. Assouline, Esq.

Assouline & Berlowe, P.A.

www.assoulineberlowe.com

Miami – Ft. Lauderdale – Boca Raton

 

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