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Florida Statute 501.137 - Full Text and Legal Analysis Florida Statute 501.137 | Lawyer Caselaw & Research
Fla. Stat. § 501.137 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
501.137 Mortgage lenders; tax and insurance payments from escrow accounts; duties.—
(1) Every lender of money, whether a natural person or an artificial entity, whose loans are secured by a mortgage on real estate located within the state and who receives funds incidental thereto or in connection therewith for the payment of property taxes or hazard insurance premiums when the funds are held in escrow by or on behalf of the lender, shall promptly pay the taxes or insurance premiums when the taxes or premiums become due and adequate escrow funds are deposited, so that the maximum tax discount available may be obtained with regard to the taxable property and so that insurance coverage on the property does not lapse.
(2) If an escrow account for the taxes or insurance premiums is deficient, the lender shall notify the property owner within 15 days after the lender receives the notification of taxes due from the county tax collector or receives the notification from the insurer that a premium is due.
(3)(a) If the lender, as a result of neglect, fails to pay any tax or insurance premium when the tax or premium is due and there are sufficient escrow funds on deposit to pay the tax or premium, and if the property owner suffers a loss as a result of this failure, then the lender is liable for the loss; except, however, that with respect to any loss which would otherwise have been insured, the extent of the liability shall not exceed the coverage limits of any insurance policy which has lapsed.
(b) If the lender violates paragraph (a) and the premium payment is not more than 90 days overdue, the insurer shall reinstate the insurance policy, retroactive to the date of cancellation, and the lender shall reimburse the property owner for any penalty or fees imposed by the insurer and paid by the property owner for purposes of reinstating the policy.
(c) If the lender violates paragraph (a) and the premium payment is more than 90 days overdue or if the insurer refuses to reinstate the insurance policy, the lender shall pay the difference between the cost of the previous insurance policy and a new, comparable insurance policy for a period of 2 years. If the lender refuses, the lender is liable for the reasonable attorney’s fees and costs of the property owner for a violation of this section.
(4) At the expiration of the annual accounting period, the lender shall issue to the property owner an annual statement of the escrow account.
History.—s. 1, ch. 76-12; s. 1, ch. 77-174; s. 1, ch. 84-52; s. 3, ch. 2004-370; s. 149, ch. 2004-390; s. 23, ch. 2006-213.

Cases Citing F.S. 501.137

Fla. Stat. § 501.137 (2026) Copy Cite Official Site Syfertize CourtListener Amendments
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·Chase Manhattan Mortg. Corp. v. Padgett, 268 B.R. 309 (S.D. Fla. 2001).

Cited 11 times | Published | District Court, S.D. Florida | 46 Collier Bankr. Cas. 2d 1595, 2001 U.S. Dist. LEXIS 16684, 2001 WL 1223132

...ses. Consequently, the Bankruptcy Court did not err, as a matter of law, in finding that Chase waived its right to recover the advances for failing to notify the Padgetts of the escrow deficiencies. In addition to the notice requirement under RESPA, section 501.137 of the Florida Statutes requires Chase to notify the *314 Padgetts of any escrow deficiencies. [6] See Fla. Stat. § 501.137. Section 501.137 of the Florida Statutes provides, in relevant part: If an escrow account for such taxes or insurance premiums is deficient, the lender shall notify the property owner within 15 days after the lender receives the notification of taxes...
...the county tax collector or receives the notification from the insurer that a premium is due. . . . At the expiration of the annual accounting period, the lender shall issue to the property owner an annual statement of the escrow account. Fla. Stat. § 501.137. Thus, pursuant to section 501.137, Chase was required to provide the Padgetts with prompt notice of any escrow deficiencies and an annual statement of the escrow account....
...rights where the mortgagee has failed to comply with its duty to notify the mortgagor of escrow deficiencies under federal and state law. Consequently, the Court finds that because Chase failed to comply with the notice requirements under RESPA and section 501.137 of the Florida Statutes, the Bankruptcy Court did not err as a matter of law in concluding that Chase waived its right to recover the advances....
...tent that those laws are inconsistent with any provision of this chapter, and then only to the extent of the inconsistency. . . . 12 U.S.C. § 2616. [7] The Court notes that in its briefs on appeal, Chase does not dispute the application of RESPA or section 501.137 to the Padgetts' mortgage....
0 red0 yellow7 green0 procedural
Cited as authorityThomas (2016)
phrase: "rule_authority"
Cited as authorityIn Re Singh (2011)
phrase: "rule_authority"
Cited as authorityIn Re Zotow (2010)
phrase: "rule_authority"
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·In Re Dominique, 368 B.R. 913 (Bankr. S.D. Fla. 2007).

Cited 8 times | Published | United States Bankruptcy Court, S.D. Florida.

...Florida law requires (2) If an escrow account for the taxes or insurance premiums is deficient, the *917 lender shall notify the property owner within 15 days after the lender receives the notification of taxes due from the county tax collector or receives the notification from the insurer that a premium is due. Fla. Stat. § 501.137(2)....
...Nothing in this opinion is intended to alter the Debtors' obligations, if any, with respect to payments for the current escrow account computation year to the extent calculated and assessed in accordance with the provisions of 24 C.F.R. § 3500.17(1), Fla. Stat. § 501.137(2), and the Mortgage....
0 red0 yellow5 green0 procedural
FollowedIn Re Ochoa (2009)
phrase: "followed by"
Cited as authorityIn Re Payne (2008)
phrase: "rule_authority"
Cited as authorityIn Re Johnson (2008)
phrase: "rule_authority"
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This Florida statute resource is curated by this site's author, a Jacksonville, Florida personal injury and workers' compensation attorney (Florida Bar No. 39104). For legal consultation, call 904-383-7448.