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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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Florida Department of Business and Professional Regulation Proposes Harsh New Mold Rules

Assouline Berlowe

On Friday, January 23, 2015, Assouline & Berlowe partner, Michael Greene, presented to an assembly of environmental industry professionals jointly organized by Florida Atlantic University, ASHRAE and the Indoor Air Quality Association on the new Mold Assessor and Remediator Standards and Practices rules proposed by the Florida Department of Business and Professional Regulation. The proposed rules would create minimum practice requirements for both mold assessors and remediators in Florida beyond the existing licensing rules and requirements.

Michael was one of the original drafters, working on behalf of the Indoor Air Quality Association, of the original assessor and remediator licensing law enacted by the Florida Legislature in 2007. The first licensing rules were not established by the DBPR until January of last year and proscribe the minimum educational, experience and testing requirements for those in the mold industry.

The newly proposed rules are unique among Florida licensed professions in providing detailed procedures for the performance of assessment and remediation. DBPR is now deciding what measures and means should apply to both assessment and remediation instead of relying on or incorporating existing industry standards. The closest analogy would be if the medical professional licensing statutes mandated how a surgeon must hold a scalpel. Ultimately, if adopted the proposed rules will increase costs for property owners and consumers as, regardless of the professional opinion of the assessor or the experience of the remediator or the actual scope of the mold event, certain minimum tests and procedures are mandated. The rules are so specific that even the thickness of polyethylene (6-mil fire-resistant) for a containment structure is set forth. The timing of this rule is particularly disconcerting as insurance coverage for mold and other microbiologic contamination has become more limited and more expensive. In contrast to the many years required to promulgate the first licensing rules, the new practice standards rule appears to be on the fast-track; having had its first public comment hearing in September of last year, with public comments closing out on January 20th of this year.

Because certain industry sectors in specific cases, such as property managers, general contractors, engineers, government, and even homeowners, may be exempt from licensing (so long as they do not hold themselves out to the public as mold assessors or remediators), the rules could have the effect of promoting assessment of the presence of mold and remediation of contamination by persons who are also unskilled and untrained in the proper means and methods for resolving mold and fungal problems.

Michael has significant experience in both resolving and preventing construction and indoor environmental legal issues and served for nine years on the Board of Directors of the Indoor Air Quality Association. Michael has spoken on and published numerous articles, see http://www.assoulineberlowe.com/michael-s-greene.html. He is available for consultation by telephone or by appointment at 954-929-1899.

Another public hearing on the proposed rules will be held on February 26, 2015 at 10 am. The public may participate by telephone conference. For more information, please contact Michael Greene below.

Michael S. Greene, Esq.

ASSOULINE & BERLOWE, P.A.

213 East Sheridan Street, Suite 3

Dania Beach, Florida  33004

Main: 954.929.1899

Fax: 954.922.6662

Email: msg@assoulineberlowe.com

http://www.assoulineberlowe.com/

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Assouline & Berlowe Partner Alan Krinzman’s 35 Years of “Real” Estate Experience

Real EstateAlan Krinzman’s real estate experience can only be described as “extensive”.   From both the legal and practical side, Mr. Krinzman has been involved with every aspect of real estate ownership, improvement, leasing, management and investment.

Mr. Krinzman’s real estate experience began from the ground up in New Orleans, Louisiana, in 1979, when Mr. Krinzman personally renovated several residential  properties which he  then personally leased and managed for the partnerships he had formed to acquire and renovate these properties.

During this same time among other things, Mr. Krinzman oversaw the land assembly, revenue bond financing for and construction of the 154 room Maison St. Charles Hotel in the Lower Garden District area of New Orleans.

When Mr. Krinzman returned to his native Miami in 1986, Mr. Krinzman and his brother (also a fine Miami lawyer) purchased the twenty unit garden style apartment building which their father had built on Bay Harbor Island in 1958.  They then proceeded with an extensive renovation of the apartment interiors as well as the exterior, and as a result of these improvements were able to increase the rent roll dramatically. When  the Krinzman brothers eventually sold their  Bay Harbor Island building in 1994 they were able to exchange it for an Art Deco apartment building complex in a prime South Beach residential location very close to Lincoln Road which was on the corner of Michigan Avenue and 16th Street.  At that time, Mr. Krinzman again directed the extensive renovations and upgrades to the apartment interiors as well as all of the exteriors to the 4 buildings comprising this historic Miami Beach property.

In 1997, Mr. Krinzman sold this historic Miami Beach property to Andrea Greenwald, who converted it the apartments to the  Metropole Condominiums.  Mr. Krinzman and his brother then took the gains they received from this sale and purchased a four bay, 37,000 square foot warehouse at a cost $1.7 of million. The warehouse fronted I-95 and was centrally located just north of Cypress Creek, Fort Lauderdale west exit on I-95.  Mr. Krinzman again hired the contractors needed to make the necessary improvements to the warehouse and supervised these renovations.  Mr. Krinzman also personally managed and directed the leasing broker hired to lease this warehouse whenever a vacancy occurred.

By 2002, Mr. Krinzman decided that it was time to enter into the institutionally managed and leased industrial market and he partnered with investors  to purchase an 80,000 square foot multi-bay mixed use, flex space warehouse and office building  in Doral, Florida, for $5,000,000.  Mr. Krinzman engaged CBRE (Richard Ellis) to manage and lease the property, after Mr. Krinzman oversaw the extensive improvements done to the property costing approximately $600,000.

In 2003, Mr. Krinzman again partnered with investors to  purchase  an older three building, 80,000 square foot warehouse complex near the Pompano Harness Track and located on Racetrack Road in Pompano Beach, Florida, for $4,000,000. He again  used the same institutional approach for management and leasing of the complex through CBRE.  As in prior instances, Mr. Krinzman oversaw a similar $400,000  extensive improvement program that required Mr. Krinzman to contract for and supervise all facets of the improvements that we made to the 3 separate buildings comprising this complex.

In 2005, Mr. Krinzman and his brother sold the Cypress Creek warehouse and during that same year Mr. Krinzman and his co-investors investors also sold the larger warehouse complex on Racetrack Road.  Through the aggregation of these funds, Mr. Krinzman and his brother bought out their investors’  share in the Doral warehouse. Mr. Krinzman and his brother continued to own and operate this warehouse until the sold the building to Seagis at the beginning of 2013 for approximately $6.4 million.  During this same time period, Mr. Krinzman and his brother purchased and  improved a 13,600 square foot 3 bay warehouse near Aventura, Florida, which he personally managed and directed the leasing broker hired to lease this warehouse whenever a vacancy occurred. This Aventura warehouse was recently sold to Mario Groskopf.

While involved in this  investment oriented real estate ownership, improvement, leasing and management activity in Florida, in 2011, Mr. Krinzman also oversaw for a long time client Bigfoot Properties Inc. the $8,000,000 purchase of a 279,000 square foot, 16 acre, mixed use office warehouse complex in Las Vegas, Nevada.  Mr. Krinzman also oversaw the management company for this property as well as the $600,0000 renovation program that was undertaken during 2011 and 2012 to attract new tenants and re-lease the property.

In 2012 and again for his longtime client, Bigfoot Properties Inc. Mr. Krinzman handled the client’s $2.8 million purchase of a 55,000 square foot flex space office warehouse building located near the intersection of Sample Road and North Powerline Roads, in Broward County, Florida. A $500,000 value add improvement and leasing turnaround for this property ensued and this property has  just been listed for sale at its most recently assessed value of $4.5 million. Mr. Krinzman will of course represent the seller Bigfoot Properties in the sale of this property, which should take place in either the first or second quarter of 2014.

And, in addition to being admitted to the Florida Bar, Mr. Krinzman is also a member of  the Louisiana Bar, holds a Florida real estate sales license and is a LEED Accredited Professional. Whether sitting on the side of the buyer, seller, equity investor or mortgage lender, in the past thirty-five years, Mr. Krinzman has personally been involved in thousands of real estate transactions and is always looking for the opportunity to represent both his existing and new clients in their next deal.

Please contact Mr. Krinzman to discuss your real estate needs.

Partner Alan Krinzman, Esq.

ASSOULINE & BERLOWE, P.A.

3250 Mary Street, Suite 100

Miami, Florida 33133

Main:  (305) 567-5576

Fax: (305) 567-9343

Email: alan@assoulineberlowe.com

http://www.assoulineberlowe.com/

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, and Corporate Law

Miami • Ft. Lauderdale • Boca Raton

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Get it in Writing – FL Supreme Court on Extension of Time to Sell Real Estate

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For the second time in so many weeks, the Florida Supreme Court has issued a “bright line” opinion, this time regarding the writing requirement in real estate contracts.

In DK Arena, Inc. v. EG Acquisitions I, Inc., the Florida Supreme Court reiterated that, as it relates to real estate contracts (as in the DK case), even extensions of time to conduct due dilligence before closing, must be in writing to be enforceable.

This opinion, originally released on March 28, 2013, and corrected on April 11, 2013, set forth that promissory estoppel is not an exception to Florida’s Statute of Frauds.  Therefore, it is important that any modifications to any real estate contracts be memorialized in a writing in order to maintain their enforceability.  This issue is becoming especially important at this time, as real estate contracts, both residential and commercial, is becoming more active.

For additional information:

In Miami: 305-567-5576

In Broward: 954-929-1899

In Palm Beach: 561-361-6566

ERIC N. ASSOULINE, ESQ.

ASSOULINE & BERLOWE, P.A.

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, and Corporate Law

Miami · Ft. Lauderdale · Boca Raton

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