Foreclosures and Replevins

Schuyler-Stewart-Smith represents creditors across the nation seeking to collect from Florida debtors.  In addition to our wealth of experience in bankruptcy matters, the firm has a particularly strong background in foreclosures and replevin actions.  For information on our breadth of services, please see the firm overview page. 

Foreclosure

Foreclosure is a creditor's remedy for recovery when a mortgage, note, or security agreement is in default.  Florida is a judicial foreclosure state, meaning that foreclosures are initiated and completed through the courts.  This process usually takes several months and may take longer depending upon what actions the borrower takes.  At the end of the process, the property subject to the mortgage is sold, and the proceeds are delivered to the creditor. 

If the sale of the property is not sufficient to cover the debt, in most cases a creditor can seek a deficiency judgment, which holds the debtor liable for the difference and allows the creditor to reach other assets of the debtor in order to satisfy its debt.  The creditor must make a motion for such a judgment, and the court holds a separate trial at which the creditor must present evidence and prove its case for a deficiency.

Foreclosure claims are tried before the court without a jury.  Any counterclaims of the debtor against the creditor are reserved for a separate trial.  While foreclosures in some other states follow a streamlined process that doesn't even involve court action, the judicial procedure in Florida calls for experienced attorneys who know how the process works and take all the right steps to protect the creditor's rights.

Replevin

Under Florida law, creditors seeking to repossess property following default on payment can pursue replevin actions.  Creditors can often accomplish replevin actions quicker than other types of action, and the property sought to be recovered can sometimes be delivered prior to any final judgment by the court. 

Replevin is governed by a complex set of detailed rules set out in Florida state law.  Creditors can only take certain property by replevin, and a complaint seeking replevin must contain specific provisions.  However, where replevin is an option, it is often the most favorable recourse to recover the property.

If you are a lender, creditor, or have a right to recover property through replevin, our attorneys have the knowledge and experience to see you through to recovery anywhere in the state.  Contact the lawyers at Schuyler-Stewart-Smith, the Creditor's Rights Law Firm of Florida, P.A., for an initial consultation.