Fla. Stat. 702.06
Deficiency decree; common-law suit to recover deficiency

In all suits for the foreclosure of mortgages heretofore or hereafter executed the entry of a deficiency decree for any portion of a deficiency, should one exist, shall be within the sound discretion of the court; however, in the case of an owner-occupied residential property, the amount of the deficiency may not exceed the difference between the judgment amount, or in the case of a short sale, the outstanding debt, and the fair market value of the property on the date of sale. For purposes of this section, there is a rebuttable presumption that a residential property for which a homestead exemption for taxation was granted according to the certified rolls of the latest assessment by the county property appraiser, before the filing of the foreclosure action, is an owner-occupied residential property. The complainant shall also have the right to sue at common law to recover such deficiency, unless the court in the foreclosure action has granted or denied a claim for a deficiency judgment.

Source: Section 702.06 — Deficiency decree; common-law suit to recover deficiency, https://www.­flsenate.­gov/Laws/Statutes/2024/0702.­06 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 702.06. Deficiency decree; common-law suit to recover deficiency's source at flsenate​.gov