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The 2025 Florida Statutes
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F.S. 697.04697.04 Future advances may be secured.—(1)(a) Any mortgage or other instrument given for the purpose of creating a lien on real property, or on any interest in a leasehold upon real property, may, and when so expressed therein shall, secure not only existing indebtedness, but also such future advances, whether such advances are obligatory or to be made at the option of the lender, or otherwise, as are made within 20 years from the date thereof, to the same extent as if such future advances were made on the date of the execution of such mortgage or other instrument, although there may be no advance made at the time of the execution of such mortgage or other instrument and although there may be no indebtedness outstanding at the time any advance is made. Such lien, as to third persons without actual notice thereof, shall be valid as to all such indebtedness and future advances from the time the mortgage or other instrument is filed for record as provided by law. (b) The total amount of indebtedness that may be so secured may decrease or increase from time to time, but the total unpaid balance so secured at any one time shall not exceed a maximum principal amount which must be specified in such mortgage or other instrument, plus interest thereon; except that the mortgagor or her or his successor in title is authorized to file for record a notice limiting the maximum principal amount that may be so secured to an amount not less than the amount actually advanced at the time of such filing, provided a copy of such filing is also sent by certified mail to the mortgagee and, in the case of an open-end or revolving credit agreement, the mortgagor surrenders to the mortgagee all credit cards, checks, or other devices used to obtain further advances at the time of filing the notice, which notice shall be recorded and shall be effective from the date of filing. Notwithstanding the foregoing, any increase in the principal balance as a result of negative amortization or deferred interest shall be secured by the mortgage; and any disbursements made for the payment of taxes, levies, or insurance on the property covered by the lien, and any advances or disbursements made under a construction loan agreement referred to in a mortgage to enable completion of the contemplated improvement, with interest on such advances or disbursements, are secured by the mortgage or other instrument even though the mortgage or other instrument does not provide for future advances, or the advances or disbursements cause the total indebtedness to exceed the face amount stated in the instrument. This subsection does not apply to any mortgages, shipping contracts, or other instruments made and given by naval stores operators and producers to secure existing loans and future advances by naval stores factors. (2) As against the rights of creditors or subsequent purchasers for a valuable consideration, actual notice or record notice of advances to be made at the option of the lender, under the terms of such mortgage or other instrument, shall be valid only as to such advances as are to be made within 20 years from the date of such mortgage or other instrument; however, this subsection does not apply to any mortgages, shipping contracts, or other instruments made and given by naval stores operators and producers to secure existing loans and future advances by naval stores factors. Notwithstanding anything in this section to the contrary, future advances made pursuant to the terms of a reverse mortgage loan (as defined in s. 103(bb) of the federal Truth in Lending Act, 15 U.S.C. ss. 1601 et seq.) shall be secured to the same extent as if such future advances were made on the date of execution of the mortgage, irrespective of the date of any such advance. (3) Any such mortgage or other instrument shall be prior in dignity to all subsequent encumbrances, including statutory liens, except landlords’ liens. History.—ss. 1, 2, 3, ch. 20846, 1941; s. 1, ch. 28116, 1953; ss. 1, 2, ch. 61-135; s. 3, ch. 63-212; s. 1, ch. 70-34; s. 11, ch. 83-267; s. 10, ch. 83-311; s. 215, ch. 92-303; s. 7, ch. 96-210; s. 1761, ch. 97-102.
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Annotations, Discussions, Cases:
Cases Citing Statute 697.04
Total Results: 26
81 So. 2d 486
Supreme Court of Florida | Filed: Jun 17, 1955 | Docket: 1283757
Cited 13 times | Published
although a statute enacted in 1941, now being Section 697.04 F.S. 1951, F.S.A., limits the scope of provisions
13 So. 3d 92, 2009 Fla. App. LEXIS 5787, 2009 WL 1393324
District Court of Appeal of Florida | Filed: May 20, 2009 | Docket: 1187072
Cited 6 times | Published
"future advances" provision consistent with section 697.04, Florida Statutes (2008), and will thereby
306 So. 2d 133
District Court of Appeal of Florida | Filed: Jan 8, 1975 | Docket: 1720414
Cited 5 times | Published
failure to meet the requirements of Fla. Stat. § 697.04 (1971).
The obligation secured by a mortgage for
299 So. 2d 603, 15 U.C.C. Rep. Serv. (West) 712
District Court of Appeal of Florida | Filed: Aug 23, 1974 | Docket: 1499199
Cited 4 times | Published
concluded there was a conflict:
"Original section 697.04(1) of the Florida Statutes provided that any
513 So. 2d 179, 1987 Fla. App. LEXIS 12148, 12 Fla. L. Weekly 2213
District Court of Appeal of Florida | Filed: Sep 9, 1987 | Docket: 1689396
Cited 3 times | Published
agreement signed by the bank is overbroad. Under Section 697.04(1)(a), Florida Statutes, any mortgage which
183 So. 3d 424, 2014 Fla. App. LEXIS 20020, 2014 WL 6911148
District Court of Appeal of Florida | Filed: Dec 10, 2014 | Docket: 2613274
Cited 2 times | Published
refers to subsequent disbursements described in section 697.04, Florida Statutes. The un-enforceability provision
644 So. 2d 97, 1994 WL 479132
District Court of Appeal of Florida | Filed: Sep 7, 1994 | Docket: 1248336
Cited 2 times | Published
advances ... as are made within 20 years... ." § 697.04(1)(a), Florida Statutes (1993) (emphasis added)
342 So. 2d 517
District Court of Appeal of Florida | Filed: Dec 16, 1976 | Docket: 1521298
Cited 2 times | Published
labor and materials supplied by Snead.
*519 Section 697.04, F.S. 1975, provides that a mortgage lien on
123 So. 2d 289
District Court of Appeal of Florida | Filed: Sep 7, 1960 | Docket: 1656838
Cited 2 times | Published
subsequent to his marriage to the appellant.
Section 697.04, Florida Statutes, F.S.A., provides:
"(1) Hereafter
369 So. 2d 89, 1979 Fla. App. LEXIS 14370
District Court of Appeal of Florida | Filed: Mar 14, 1979 | Docket: 64569276
Cited 1 times | Published
type known as an open-end mortgage authorized by § 697.-04, Florida Statutes. The mortgage contains the following
District Court of Appeal of Florida | Filed: Aug 4, 2021 | Docket: 60108426
Published
the grasp of
the dragnet clause.
3 Section 697.04(1)(a), Florida Statutes (2005), states that
178 So. 3d 473, 2015 WL 6161123
District Court of Appeal of Florida | Filed: Oct 21, 2016 | Docket: 60251476
Published
08(l)(b) should be read in conjunction with section 697.04(l)(b), Florida Statutes (2010), entitled “Future
183 So. 3d 1206
District Court of Appeal of Florida | Filed: Jan 14, 2016 | Docket: 3028638
Published
provided:
Future Advances: Pursuant to F.S. 697.04, this mortgage shall secure
not only the
District Court of Appeal of Florida | Filed: Oct 21, 2015 | Docket: 2991035
Published
08(1)(b) should be read in
conjunction with section 697.04(1)(b), Florida Statutes (2010), entitled
“Future
968 So. 2d 616, 2007 WL 2935001
District Court of Appeal of Florida | Filed: Oct 10, 2007 | Docket: 1745330
Published
mortgage provides him the protection provided by section 697.04(1)(a), Florida Statutes (2004), which states:
724 So. 2d 186, 1999 Fla. App. LEXIS 275, 1999 WL 12707
District Court of Appeal of Florida | Filed: Jan 15, 1999 | Docket: 64785479
Published
mortgage is an open-ended mortgage authorized by section 697.04, Florida Statutes, and contains a future advance
559 So. 2d 755, 1990 WL 57993
District Court of Appeal of Florida | Filed: May 2, 1990 | Docket: 64649669
Published
encumbering the collateral and creating a lien. § 697.04(l)(a), Fla.Stat. (1987). The initial mortgage
560 So. 2d 360, 1990 WL 52322
District Court of Appeal of Florida | Filed: Apr 27, 1990 | Docket: 64650155
Published
the loan which was secured by its mortgage.
Section 697.04(l)(b), Florida Statutes (1985), which provides
91 B.R. 172, 1988 Bankr. LEXIS 1584, 1988 WL 100354
United States Bankruptcy Court, M.D. Florida | Filed: Sep 26, 1988 | Docket: 65779640
Published
personal property and as such are governed by Florida Statute 697.04(1). Since the adoption of the Uniform Commercial
362 So. 2d 1003, 1978 Fla. App. LEXIS 16434
District Court of Appeal of Florida | Filed: Sep 27, 1978 | Docket: 64566350
Published
chapter secures future advances, as provided in § 697.04, the tax shall be paid at the time of execution
342 So. 2d 517, 1976 Fla. App. LEXIS 16170
District Court of Appeal of Florida | Filed: Dec 16, 1976 | Docket: 64557095
Published
lenders’ mortgages satisfy the requirements of § 697.04, F.S. 1975. To speak of a construction loan mortgage
216 So. 2d 808, 1968 Fla. App. LEXIS 4758
District Court of Appeal of Florida | Filed: Dec 11, 1968 | Docket: 64507732
Published
therein is specified in said deed as required by Section 697.04 Florida Statutes [F.S.A.], and said deed is
200 So. 2d 555, 1967 Fla. App. LEXIS 4509
District Court of Appeal of Florida | Filed: Jun 29, 1967 | Docket: 64501423
Published
advances in accordance with the provisions of F.S.A. § 697.04, and that defendant’s judgment of November 9,
192 So. 2d 302, 1966 Fla. App. LEXIS 4622
District Court of Appeal of Florida | Filed: Nov 29, 1966 | Docket: 64498775
Published
(1927); Walls v. Endel, 20 Fla. 86 (1883).
. Section 697.04, Florida Statutes, F.S.A.
. McEwen v. Growers’
177 So. 2d 897
District Court of Appeal of Florida | Filed: Aug 17, 1965 | Docket: 64494006
Published
Federal falls squarely within the protection of Fla.Stat. 697.04, F.S.A. and that its lien thereunder was entitled
75 So. 2d 761, 1954 Fla. LEXIS 1833
Supreme Court of Florida | Filed: Sep 24, 1954 | Docket: 64486081
Published
Miller to secure future advances, and that under Section 697.04, F.S.A. that pledge was effective to the same
