A current case chosen by the Fifth District Court of Appeals talks about the statutory structure for improving and preserving a judgment lien on genuine property in Florida. The opinion is Sun Glow Const., Inc. v. Cypress Healing Corp.,– So. 3d–, 2010 WL 4536803 (Fla. fifth DCA 2010).
According to Fla. Stat. 55.10, a judgment ends up being a lien on real estate in any county when a licensed copy of it is tape-recorded in the official records or judgment lien record of that county and runs as a lien for a preliminary period of ten years from the date of the recording; and the judgment financial institution may extend the 10 year period by adhering to Fla. Stat. 55.10( 2 ):
“The lien offered for in subsection (1) or an extension of that lien as provided by this subsection may be extended for an additional period of 10 years, based on the constraint in subsection (3 ), by rerecording a certified copy of the judgment, order, or decree prior to the expiration of the lien or the expiration of the extended lien and by at the same time recording an affidavit with the present address of the person who has a lien as an outcome of the judgment, order, or decree. The extension shall be reliable from the date the accredited copy of the judgment, order, or decree is rerecorded.”
The question presented in the Sun Radiance Building case was whether the judgment lender might rerecord its judgment after the expiration of the preliminary ten years duration, and thereby establish a new lien on real estate. Due to the fact that the statute doesn’t particularly foreclose this possibility, the court permitted the judgment creditor to do so. According to the court, the only result of the judgment creditor’s failure to rerecord the judgment prior to the expiration of the preliminary 10 year duration was to cause the judgment creditor to lose the top priority over subsequent lienholders created by the earlier recording and to develop concern just over liens established after the later recording.
This ruling goes over the capability to maintain a judgment lien on real estate for the life of the judgment, however it does not discuss the life of the judgment itself. That matter is consisted of in a different statute- Fla. Stat. 95.11( 1 ), which sets a 20 year statute of restrictions on judgment enforcement actions. However the analysis does not end there. There is caselaw enabling a judgment financial institution to submit an action on a judgment prior to its expiration and actually restore the judgment, by way of a new judgment, helpful for another twenty years. See Petersen v. Whitson, 14 So. 3d 300 (Fla. 2d DCA 2009). And most likely, based on the Petersen court’s reasoning, when the second judgment is set to lapse, the judgment creditor may file another new suit and acquire a third judgment (and so on).
Based on these statutes and cases, checked out together, a judgment in Florida can essentially be good forever. Similarly, a judgment lien can be good permanently, limited by its tape-recording only in terms of its top priority. This analysis applies similarly to judgments coming from Florida, judgments entered in other states recorded in Florida pursuant to the Uniform Enforcement of Foreign Judgments Act, see Haigh v. Planning Bd. of Town of Medfield, 940 So. 2d 1230 (Fla. 5th DCA 2006), and judgments entered in foreign countries recorded in Florida pursuant to the Uniform Foreign Money Judgments Recognition Act, see Nadd v. Le Credit Lyonnais, S.A., 804 So. 2d 1226 (Fla. 2001).