Foreclosure Defense Florida

Foreclosure Case Dismissal and Florida’s Cost Bond Statute

If you have a foreclosure case filed against you, first thing is you should have a foreclosure defense attorney.   Second thing is your attorney should be familiar with Florida Statutes, 57.011 Security by Non-Residents.   A serious problem I’ve had since the begining of the foreclosure crisis is foreign corporations or exotic non-corporate entitites like “Deutsche Bank National Trust Company” filing a foreclosure suit against one of my neighbors.   From a technical legal perspective there are only a few select entities that have the legal qualifications to appear before the court. Minor children cannot (only their parents can on their behalf), Dead people cannot (only a properly appointed personal representative can), Foreign Corporations cannot (unless and until they register and get permission from the State of Florida Division of Corporations).

Florida’s Non-Resident Cost Bond Statute

All of this brings us to Florida Statutes 57.011.   A little known and not often used nugget that has existed in Florida Laws forever, hidden like some attorney hunting treasure.   When this law was passed, the Legislature was concerned about carpet bagger, Yankee corporations filing suit against Floridians then just walking away.   The statute requires corporations to post a bond with the court ($100), to cover the costs of suit against the Floridian if the foreign corporation subsequently walks away.     Here’s another part I like…..the statute also provides that a   court….

“may hold the attorney bringing or prosecuting the action liable for said costs and if they are adjudged against plaintiff, an execution shall issue against said attorney.”

Take that Marshall Watson or David Stern or any of these other attorneys out there who are improperly taking advantage of Florida citizens.   The text of the statute can be found here, but if you want to know how to put it to work for you…contact me here at

www.mattweidnerlaw.com


3 Comments

  • Kai says:

    This is a fairly old posting and other replies regarding this matter discuss that an attorney cannot be a surety, but what if the Bank (Plaintiff) posts the bond after a Notice of Failure to File…then lists Plaintiff has both principal and cash surety, yet the an attorney from the firm (not the one of record) signs the bond. A surety bond should have an insurance company as surety, correct? And an attorney in fact for the bank should sign in order for the bond to be legit, correct?

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  • jb thornberry says:

    Matt,
    if the Plaintiff is an out-of-state corporation and is registered with the State of Florida Division of Corporations, then does posting a cost bond under Florida Statutes 57.011 apply?
    it would seem that it would not in this case based on your comments.
    thx
    jb

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