Florida Mortgage Foreclosure Courts Allow “Substantial Compliance” With the Mortgage, What About Florida Trust Disputes?
What do Florida trustees need to do to avoid a lawsuit for breach of fiduciary duty? Is “substantial compliance” with the terms of a trust sufficient under Florida law? Florida probate lawyers may want to read over this recent mortgage foreclosure in order to maintain their duties.
Substantial Compliance
- What is “substantial compliance?”
- Florida estate attorneys know that perfect compliance with the terms of a contract or trust can be difficult.
- Florida courts have developed a doctrine of “substantial compliance” with foreclosure lawsuits.
- What is the doctrine all about?
- Basically if a bank substantially complies with the terms of a mortgage the bank will be able to foreclose.
- Does this same doctrine apply to trust law?
- Florida will contest lawyers know that substantial compliance may not even be enough for executing a will.
- So what about trusts?
- Talk to estate attorneys Florida about this before you decide that substantial compliance is enough.
- What duties do trustees owe to the beneficiaries of a Florida trust?
- And is substantial compliance enough?
Bank of America v. Cadet
- This was a relatively simple foreclosure case out of the Third District Court of Appeal that sits in Miami-Dade.
- The homeowner tried to get out from the foreclosure by claiming that the bank failed to follow a condition of the mortgage.
- Probate attorneys Florida know that the terms of a contract are important to a Court and following those terms is important.
- So what happened?
- The Court noted that although there was no absolute compliance there was substantial compliance.
- Was that good enough?
- According to the Court that was good enough.
- What would have happened if this was a Florida trust dispute?
- Would a probate court treat these terms the same as a foreclosure court?
Want to learn more?
Check out the entire case of Bank of America v. Cadet by clicking here.
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