A Boca Raton couple’s court case tested the Florida statute of limitations, the Palm Beach Post reported.
Judge Rodger Colton ruled in Palm Beach County foreclosure court last month in favor of one-time condo king Bill Lilly and former fitness instructor Valerie Kaan, allowing them to win their estate in the Sanctuary community. A Florida law places a five-year statute of limitations on pursuing a contract dispute. The matter to date had stayed out of foreclosure cases.
Kaan rebuilt a real estate empire while her husband served five years in prison for bank fraud. She bought an 8,500-square-foot home in the Sanctuary in 1999 for $3.6 million. The feds filed a civil suit alleging Lilly was avoiding paying the money, the newspaper said.
A foreclosure on the estate was filed against Kaan in 2008. The bank took a voluntary dismissal at a trail last month because of a legal misstep. The statute of limitations prevents the case to be refiled. Now the bank is attempting to the reopen the case, the report said.
“I hate the ‘free house’ story,” said Matt Weidner, St. Petersburg foreclosure defense attorney told the Palm Beach Post. “There is no free house, largely.” [Palm Beach Post] — Mark Maurer
via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/nCesU9LVEQw/
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