Legal Question in Real Estate Law in Florida
What takes precidence when a property is sold - the mortgage or a judgement?
Asked on 10/19/09, 1:51 pm
2 Answers from Attorneys
Richard Stoffels
Stoffels Law Group
Both. Unless the purchase price will pay all of the closing costs, along with the judgment and mortgage, the sale will not close. Of course, if you can negotiate a "short sale" with either the judgment holder or the bank, in essence reducing either the judgment or the mortgage, then you would be able to close as both would be released and no longer affect the good warranty title needed to convey the property.
Answered on 10/19/09, 2:34 pm
David Slater
David P. Slater, Esq.
Which ever was filed with the County clerk first.
Answered on 10/19/09, 9:16 pm
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