Florida Statute 697.07 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XL
REAL AND PERSONAL PROPERTY

Chapter 697
INSTRUMENTS DEEMED MORTGAGES AND THE NATURE OF A MORTGAGE

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F.S. 697.07

697.07 Assignment of rents.—

(1) For purposes of this section, the term:

(a) “Mortgagee” means a person entitled to enforce an obligation secured by a mortgage.

(b) “Mortgagor” means a person who grants a mortgage or a successor in ownership of the real property described in the mortgage.

(2) A mortgage or separate instrument may provide for an assignment of rents of real property or any interest therein as security for repayment of an indebtedness.

(3) If such an assignment is made, the mortgagee shall hold a lien on the rents, and the lien created by the assignment shall be perfected and effective against the mortgagor and third parties upon recordation of the mortgage or separate instrument in the public records of the county in which the real property is located, according to law.

(4) Unless otherwise agreed to in writing by the mortgagee and mortgagor, the lien created by the assignment of rents is enforceable upon the mortgagor’s default and written demand for the rents made by the mortgagee to the mortgagor, whereupon the mortgagor shall turn over all rents in the possession or control of the mortgagor at the time of the written demand or collected thereafter (the “collected rents”) to the mortgagee less payment of any expenses authorized by the mortgagee in writing.

(5) Upon application by the mortgagee or mortgagor, in a foreclosure action, and notwithstanding any asserted defenses or counterclaims of the mortgagor, a court of competent jurisdiction, pending final adjudication of any action, may require the mortgagor to deposit the collected rents into the registry of the court, or in such other depository as the court may designate. However, the court may authorize the use of the collected rents, before deposit into the registry of the court or other depository, to:

(a) Pay the reasonable expenses solely to protect, preserve, and operate the real property, including, without limitation, real estate taxes, insurance, and assessments that become due after the entry of the court’s order to a homeowners’ association or an association, as those terms are defined in s. 720.301, or a corporation regulated under chapter 718 or chapter 719;

(b) Escrow sums required by the mortgagee or separate assignment of rents instrument; and

The court shall require the mortgagor to account to the court and the mortgagee for the receipt and use of the collected rents and may also impose other conditions on the mortgagor’s use of the collected rents.

(6) Nothing herein shall preclude the court from granting any other appropriate relief regarding the collected rents pending final adjudication of the action. The undisbursed collected rents remaining in the possession of the mortgagor or in the registry of the court, or in such other depository as ordered by the court, shall be disbursed at the conclusion of the action in accordance with the court’s final judgment or decree.

(7) The court shall expedite the hearing on the application by the mortgagee or mortgagor to enforce the assignment of rents. The procedures authorized by this statute are in addition to any other rights or remedies of the mortgagee or mortgagor under the mortgage, separate assignment of rents instrument, promissory note, at law, or in equity.

(8) Nothing herein shall alter the lien priorities, rights, or interests among mortgagees or other lienholders or alter the rights of the mortgagee under the mortgage, separate assignment of rents instrument, at law or in equity, concerning rents collected before the written demand by the mortgagee. A mortgagee’s enforcement of its assignment of rents under this statute shall not operate to transfer title to any rents not received by the mortgagee.

(9) Any moneys received by the mortgagee pursuant to this statute shall be applied by the mortgagee in accordance with the mortgage, separate assignment of rents instrument, or promissory note, and the mortgagee shall account to the mortgagor for such application.

(10) This section does not apply to a corporation that is a homeowners’ association or an association, as those terms are defined in s. 720.301, or a corporation regulated under chapter 718 or chapter 719, that:

(a) Acquires title to a parcel or unit through the foreclosure of its claim of lien, or a deed in lieu of foreclosure, provided that title remains vested in the association or corporation and any rents collected are applied to assessments that are then due; or

(b) Collects rents from tenants in a parcel or unit pursuant to s. 718.116(11), s. 719.108(10), or s. 720.3085(8).

History.—s. 1, ch. 87-217; s. 1, ch. 93-88; s. 13, ch. 93-250; s. 12, ch. 97-93; s. 1, ch. 2001-215; s. 2, ch. 2023-215.

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Amendments to 697.07

Arrestable Offenses / Crimes under Fla. Stat. 697.07

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 697.07.

Annotations, Discussions, Cases:

Cases Citing Statute 697.07

Total Results: 20

T.G. UNITED, INC., AND MENTAL TOUGHNESS TRAINING CENTER, LLC vs AADD PROPERTIES, LLC

Court: District Court of Appeal of Florida | Date Filed: 2023-09-22

Snippet: outside the court registry. For example, section 697.07(5), Florida Statutes (2023), governs assignment

SEASPRAY RESORT LTD. v. UCF 1 TRUST 1

Court: District Court of Appeal of Florida | Date Filed: 2018-12-05

Citation: 260 So. 3d 333

Snippet: the assignment of leases and rents under section 697.07, Florida Statutes. The trial court granted the

Bluewater, Inc. v. Ctr. St. Lending Fund IV Spe, LLC

Court: District Court of Appeal of Florida | Date Filed: 2018-11-21

Citation: 257 So. 3d 1092

Snippet: requiring sequestration of rents under section 697.07(4), Florida Statutes (2018). The statute allows

BLUEWATER, INC. and ANTHONY S. WALKER v. CENTER STREET LENDING FUND IV SPE, LLC

Court: District Court of Appeal of Florida | Date Filed: 2018-11-21

Snippet: requiring sequestration of rents under section 697.07(4), Florida Statutes (2018). The statute allows

GREEN EMERALD HOMES, L L C v. RESIDENTIAL CREDIT OPPORTUNITIES TRUST

Court: District Court of Appeal of Florida | Date Filed: 2018-06-27

Citation: 256 So. 3d 211

Snippet: Trust's motion to sequester rents pursuant to section 697.07, Florida Statutes (2017). The order requires that

UV Cite III, LLC v. Deutsche Bank National Trust Co.

Court: District Court of Appeal of Florida | Date Filed: 2017-04-12

Citation: 215 So. 3d 1280, 2017 WL 1363945, 2017 Fla. App. LEXIS 5085

Snippet: registry of the court ....”§ 697.07(1), (4), Fla. Stat. (2016). Section 697.07 “was enacted as a public policy

Terant v. Beltway Capital, LLC

Court: District Court of Appeal of Florida | Date Filed: 2014-10-01

Citation: 147 So. 3d 1103, 2014 Fla. App. LEXIS 15288, 2014 WL 4852903

Snippet: real property ... pursuant to Fla. Stat. Section 697.07(4).” On January 9, 2014, the trial court held

Wane v. U.S. Bank, National Ass'n

Court: District Court of Appeal of Florida | Date Filed: 2013-12-20

Citation: 128 So. 3d 932, 2013 Fla. App. LEXIS 20158, 2013 WL 6703668

Snippet: comply with the terms of the Rider and section 697.07, Florida Statutes (2012), which requires U.S. Bank

Ocean Bank v. 107 Avenue Office Park Condominium Ass'n

Court: District Court of Appeal of Florida | Date Filed: 2012-08-15

Citation: 95 So. 3d 432, 2012 WL 3316873, 2012 Fla. App. LEXIS 13462

Snippet: and an accompanying assignment of rents. See § 697.07, Fla. Stat. (2003); Howard Sav. Bank v. E. Fed

Tidewater Estates Co-Op, Inc. v. U.S. Bank National Ass'n

Court: District Court of Appeal of Florida | Date Filed: 2012-02-29

Citation: 83 So. 3d 912, 2012 WL 638029, 2012 Fla. App. LEXIS 3259

Snippet: 912 So.2d 357, 358 (Fla. 4th DCA 2005). Section 697.07(4), Florida Statutes (2011), provides that a court

DeSilva v. FIRST COMMUNITY BANK OF AMERICA

Court: District Court of Appeal of Florida | Date Filed: 2010-08-04

Citation: 42 So. 3d 285, 2010 Fla. App. LEXIS 11259, 2010 WL 3022849

Snippet: ALTENBERND and LaROSE, JJ., Concur. NOTES [1] Section 697.07, Florida Statutes (2009), provides a simple method

National Loan Investors, L.P. v. Joymar Associates

Court: District Court of Appeal of Florida | Date Filed: 2002-04-03

Citation: 812 So. 2d 582, 2002 Fla. App. LEXIS 4271, 2002 WL 491851

Snippet: for sequestration of rents as provided by section 697.07(4), Florida Statutes (1995). The trial court based

Citation Mortg., Ltd. v. Rc of Retirement Living Ltd.

Court: District Court of Appeal of Florida | Date Filed: 2000-03-24

Citation: 753 So. 2d 777, 2000 Fla. App. LEXIS 3517

Snippet: all based on appellants' claim that under section 697.07(3), Florida Statutes (1991), as successors to the

Fernandez v. Olsavsky

Court: District Court of Appeal of Florida | Date Filed: 1998-12-30

Citation: 722 So. 2d 953, 1998 Fla. App. LEXIS 16352, 1998 WL 903979

Snippet: 2d 1137 (Fla. 4th DCA 1992)(affirming, under § 697.07, Fla. Stat. (1989), court order compelling the

Whud Real Estate Ltd. Partnership v. Oak Grove, Ltd.

Court: District Court of Appeal of Florida | Date Filed: 1997-10-01

Citation: 699 So. 2d 842, 1997 Fla. App. LEXIS 11112, 1997 WL 600202

Snippet: clear abuse of discretion granted under section 697.07(4), Florida Statutes (1995). Nor can we find error

Seasons Partnership v. KRAUS-ANDERSON

Court: District Court of Appeal of Florida | Date Filed: 1997-09-19

Citation: 700 So. 2d 60, 1997 WL 577716

Snippet: order to deposit the rents pursuant to section 697.07, Florida Statutes (1995), but it did object to

ALAFAYA SQUARE v. Great Western Bank

Court: District Court of Appeal of Florida | Date Filed: 1997-09-02

Citation: 700 So. 2d 38, 1997 WL 541171

Snippet: trial court granted the motion pursuant to section 697.07, Florida Statutes (1995). Since then, all rents

Whetstone Partnership v. General Electric Capital Corp.

Court: District Court of Appeal of Florida | Date Filed: 1995-12-20

Citation: 666 So. 2d 194, 1995 WL 749682

Snippet: determination of entitlements at trial. Section 697.07(4), Florida Statutes (1993) specifically provides

Bared & Co. v. Landis & Gyr Powers, Inc.

Court: District Court of Appeal of Florida | Date Filed: 1995-01-25

Citation: 650 So. 2d 633, 1995 Fla. App. LEXIS 442, 1995 WL 25687

Snippet: 497 (Fla. 3rd DCA 1994) (Florida Statute section 697.07, providing for simplified procedure to enforce

Ginsberg v. Lennar Florida Holdings

Court: District Court of Appeal of Florida | Date Filed: 1994-10-05

Citation: 645 So. 2d 490, 1994 WL 534950

Snippet: section 697.07, Florida Statutes (1993)[5] should be applied retroactively and that section 697.07 *497