Florida Statutes
Fla. Stat. § 679.617 (2025)
Rights of transferee of collateral.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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679.617 Rights of transferee of collateral.—
(1) A secured party’s disposition of collateral after default:
(a) Transfers to a transferee for value all of the debtor’s rights in the collateral;
(b) Discharges the security interest under which the disposition is made; and
(c) Discharges any subordinate security interest or other subordinate lien other than liens created under statutes providing for liens, if any, that are not to be discharged.
(2) A transferee that acts in good faith takes free of the rights and interests described in subsection (1), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(3) If a transferee does not take free of the rights and interests described in subsection (1), the transferee takes the collateral subject to:
(a) The debtor’s rights in the collateral;
(b) The security interest or agricultural lien under which the disposition is made; and
(c) Any other security interest or other lien.
Notes of Decisions
Cited in 2
cases, 2006–2018 · leading case: Opacmare USA, LLC v. Lazzara Custom Yachts, LLC, 314 F. Supp. 3d 1276 (M.D. Fla. 2018).
Opacmare USA, LLC v. Lazzara Custom Yachts, LLC, 314 F. Supp. 3d 1276 (M.D. Fla. 2018). “Fla. Stat. § 679.617 ("A transferee that acts in good faith takes free of the rights and interests described in subsection (1), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.”
In re: Laquita Curry v. (6th Cir. BAP 2006). “504 (now Fla. Stat. § 679.617 ), established that ownership of the repossessed collateral remained with the debtor because it stated that when the secured party sells the collateral to a purchaser, “all of the debtor’s rights therein” pass to the purchaser.”
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