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Updated 12 months ago on . Most recent reply
Florida Sheriff Sale, COA Lien over a year old (Expired?)
Looking to bid in a few days on a Primary Mortgage lien, it appears that there was an COA Lien which was filed with county on 11/22/22. Unclear if the lien has expired, and if surplus funds would go to the COA
According to the COA State laws i found this:
The lien is not effective 1 year after the claim of lien was recorded unless, within that time, an action to enforce the lien is commenced. The 1-year period is automatically extended for any length of time during which the association is prevented from filing a foreclosure action by an automatic stay resulting from a bankruptcy petition filed by the parcel owner or any other person claiming an interest in the parcel.
With the primary lien holder the bank doing a foreclosure constitute as "any other person claiming interest in a parcel" . Therefore the lien is extended and the COA would access surplus funds to satisfy the COA lien. Or should i expect the fees to come with property after bank foreclosure proceedings?
Any ideas?
Thanks in advance