ANJ Future Investments, Inc. v. Alter, 756 So. 2d 153 (Fla. 3d DCA 2000). · Go Syfert
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ANJ Future Investments, Inc. v. Alter, 756 So. 2d 153 (Fla. 3d DCA 2000). Cases Citing This Book View Copy Cite
3 citation events across 1 distinct court.
Strongest positive: DeSilva v. FIRST COMMUNITY BANK OF AMERICA (fladistctapp, 2010-08-04)
Top citers, strongest first. 2 distinct citers.
discussed Cited "see" DeSilva v. FIRST COMMUNITY BANK OF AMERICA
Fla. Dist. Ct. App. · 2010 · signal: see · confidence high
Bank, F.S.B., 523 So.2d 747 (Fla. 5th DCA 1988) (reversing appointment of a receiver where witness testified that she did not know the condition of the property and there was no showing of waste); see generally ANJ Future *290 Invs., Inc. v. Alter, 756 So.2d 153, 154 (Fla. 3d DCA 2000) (reversing appointment of receiver because party seeking receivership did not show that mortgagor was wasting the property or subjecting it to serious risk of loss).
discussed Cited "see, e.g." CONCORDIA VENTURES, L L C, TRUSTEE OF CVLR1 TRUST UAD JANUARY 14, 2013 v. SLEMOVICI, BARIBISH
Fla. Dist. Ct. App. · 2024 · signal: see also · confidence medium
Relatedly, "to be entitled to the appointment of a receiver, the movant must show 'that [the] property is subject to a serious loss.' " Cramer, 113 So. 3d at 1023 (alteration in original) (quoting Plaza v. Plaza, 78 So. 3d 4, 6 (Fla. 3d DCA 2011); see also ANJ Future Invs., Inc. v. Alter, 756 So. 2d 153, 154 (Fla. 3d DCA 1 ARCPE argues, as it did below, that Concordia no longer owns the property so it lacks standing to challenge the appointment of a receiver.
ANJ FUTURE INVESTMENTS, INC., and Mohamed Ibrahim, Appellants,
v.
Frank ALTER, Appellee.
3D00-424.
District Court of Appeal of Florida, Third District.
Mar 15, 2000.
756 So. 2d 153
Schwartz, C.J., and Green and Fletcher.
Cited by 2 opinions  |  Published

Greenberg Traurig and Susan Tarbe, Brenda K. Supple and Elliot H. Scherker,[*154] Miami; Simon Schindler & Sandberg, Miami, for appellants.

Entin, Margules & Della Fera and Leon R. Margules, Fort Lauderdale, and Christopher W. Prusaski, for appellee.

Before SCHWARTZ, C.J., and GREEN and FLETCHER, JJ.

PER CURIAM.

ANJ Future Investments, Inc. and Mohamed Ibrahim [collectively, ANJ] seek to reverse an order appointing a receiver in foreclosure proceedings. We reverse.

"The appointment of a receiver, as an equitable remedy, is not a matter of right even if the mortgage so provides.... [T]he trial court must balance the mortgagor's right to own and possess its property against the interests of the mortgagee in protecting its security in the property." Seasons Partnership I v. Kraus-Anderson, Inc., 700 So.2d 60, 61 (Fla. 2d DCA 1997); see Barnett Bank of Alachua County v. Steinberg, 632 So.2d 233 (Fla. 1st DCA 1994)(appointment of a receiver is an extraordinary measure which must be exercised with caution as it is in derogation of the legal owner's fundamental right to possession of his or her property). Here, there was no showing on the record that ANJ was wasting the mortgaged property or otherwise subjecting it to serious risk of loss, or that the value of the property was insufficient to secure the mortgage loan. Where there are other less drastic methods to protect Alter's security interest, the appointment of a receiver was an abuse of discretion. Atco Construction & Development Corp. v. Beneficial Savings Bank, F.S.B., 523 So.2d 747 (Fla. 5th DCA 1988); Turtle Lake Assoc. Ltd. v. Third Financial Services, Inc., 518 So.2d 959 (Fla. 1st DCA 1988); see, e.g., Alafaya Square Ass'n, Ltd. v. Great Western Bank, 700 So.2d 38 (Fla. 5th DCA 1997); Sazant v. Foremost Investments, N.V., 507 So.2d 653 (Fla. 3d DCA 1987). Accordingly, we reverse the order appointing a receiver and remand for further proceedings.

Reversed and remanded.