Florida Statutes
Fla. Stat. § 697.07 (2025)
Assignment of rents.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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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
(c) Make payments to the mortgagee.
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
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.
Notes of Decisions
Cited in 81
cases (2 in the last 5 years), 1988–2023 · leading case: Ginsberg v. Lennar Florida Holdings, 645 So. 2d 490 (Fla. 3d DCA 1994).
Ginsberg v. Lennar Florida Holdings, 645 So. 2d 490 (Fla. 3d DCA 1994). “Lennar argues that section 697.07, Florida Statutes (1993) [5] should be applied retroactively and that section 697.”
In Re 163rd Street Mini Storage, Inc., 113 B.R. 87 (Bankr. S.D. Florida 1990). “1989) (“Fla.Stat. § 697.07 makes all Florida assignments of rents into absolute transfers of the ongoing income stream, enforceable after the mortgagor’s default upon the mortgagee’s subsequent written demand”); In re Aloma Square, Inc.”
In Re Thymewood Apts., Ltd., 129 B.R. 505 (Bankr. S.D. Ohio 1991). “Fla.Stat. § 697.07 (1987). In its prior decision this Court held, as a matter of law, that Fla.”
Oakbrooke Assocs., Ltd. v. INS. COM'R OF STATE OF CA., 581 So. 2d 943 (Fla. 5th DCA 1991). “This is an appeal from an order awarding an assignment of rents pursuant to section 697.07, Florida Statutes (1989). The facts show that in 1984, appellant, Oakbrooke Associates, Ltd.”
In Re Ameriswiss Assocs., 148 B.R. 349 (Bankr. S.D. Florida 1992). “On or about August 19, 1992, Frankel sent Ameriswiss a letter purporting to demand payment of the Rents pursuant to Fla.Stat. § 697.07. There is no evidence that Frankel sent any demand letter to the Trustee, or even provided the Trustee with a copy of the purported demand…”
Aloma Square, Inc. v. California Fed. Sav. & Loan Ass'n (In Re Aloma Square, Inc.), 116 B.R. 827 (M.D. Fla. 1990). “1 The court concluded that the Appellant was not entitled to such proceeds after finding that the Appellee had perfected its interest in such proceeds by complying with the requirements of section 697.07, Florida Statutes. On this appeal, the Appellant is not questioning…”
In Re Cardinal Indus., Inc., 118 B.R. 971 (Bankr. S.D. Ohio 1990). “The Lenders contend that these provisions, coupled with the application of Fla. Stat. § 697.07 (1989), give them absolute ownership rights in their respective rents and exclude such rents from property of the respective bankruptcy estates pursuant to 11 U.”
United States v. Bailey, 288 F. Supp. 2d 1261 (M.D. Fla. 2003). “In relevant part, that statute provides: (1) A mortgage or separate instrument may provide for an assignment of rents of real property or any interests therein as security for payment of an indebtedness. (2) If such assignment is made, the mortgagee shall hold a lien on the…”
In Re One Fourth Street North, Ltd., 103 B.R. 320 (Bankr. M.D. Fla. 1989). “Presently under consideration is the issue of whether or not the conditional assignment set forth in the Mortgage and Assignment of Rents held by Florida Federal has become an absolute assignment pursuant to Fla.Stat. § 697.07, thereby *321 transferring ownership to all rents…”
NASSAU SQUARE ASSOC., LTD. v. Ins. Com'r of State of California, 579 So. 2d 259 (Fla. 4th DCA 1991). “These two appeals, which we sua sponte consolidate, emanate from the trial court's ruling that section 697.07, Florida Statutes (1987), should be retroactively applied.”
In Re Ashoka Enter., Inc., 125 B.R. 845 (Bankr. S.D. Florida 1990). “The written demand was made in an attempt to comply with Fla. Stat. § 697.07 (1987). The effective date of said statute is October 1, 1987.”
In Re California Gardens Apts., Ltd., 130 B.R. 509 (Bankr. S.D. Ohio 1991). “RTC contends that the assignment language, coupled with the provisions of Fla. Stat. § 697.07 , vest RTC with absolute ownership rights in the rents upon each Partnership Debtor’s default in payment and the lender's compliance with the applicable notice requirements.”
— 697.07(1) — 1 case
UV Cite III, LLC v. Deutsche Bank Nat'l Trust Co., 215 So. 3d 1280 (Fla. 3d DCA 2017).
— 697.07(2) — 1 case
Green Emerald Homes, L L C v. Residential Credit Opportunities Trust, 256 So. 3d 211 (Fla. 2d DCA 2018).
— 697.07(3) — 8 cases
Ginsberg v. Lennar Florida Holdings, 645 So. 2d 490 (Fla. 3d DCA 1994). “Lennar argues that section 697.07, Florida Statutes (1993) [5] should be applied retroactively and that section 697.”
Wane v. U.S. Bank, Nat'l Ass'n, 128 So. 3d 932 (Fla. 2d DCA 2013).
Citation Mortg., Ltd. v. Rc of Ret. Living Ltd., 753 So. 2d 777 (Fla. 5th DCA 2000).
In Re Villamont-Oxford Assocs. Ltd. P'ship, 230 B.R. 445 (Bankr. M.D. Fla. 1998).
In Re De Cespedes, 241 B.R. 260 (Bankr. S.D. Florida 1999).
— 697.07(4) — 12 cases
Wane v. U.S. Bank, Nat'l Ass'n, 128 So. 3d 932 (Fla. 2d DCA 2013).
Tidewater Estates Co-Op, Inc. v. U.S. Bank Nat'l Ass'n, 83 So. 3d 912 (Fla. 2d DCA 2012).
Terant v. Beltway Capital, LLC, 147 So. 3d 1103 (Fla. 3d DCA 2014).
Whud Real Est. Ltd. P'ship v. Oak Grove, Ltd., 699 So. 2d 842 (Fla. 3d DCA 1997).
In Re Villamont-Oxford Assocs. Ltd. P'ship, 230 B.R. 445 (Bankr. M.D. Fla. 1998).
— 697.07(4)(a) — 1 case
Seaspray Resort Ltd. v. Ucf 1 Trust 1, 260 So. 3d 333 (Fla. 4th DCA 2018).
— 697.07(5) — 3 cases
In Re Villamont-Oxford Assocs. Ltd. P'ship, 230 B.R. 445 (Bankr. M.D. Fla. 1998).
T.G. United, Inc., & Mental Toughness Training Ctr., LLC Vs Aadd Props., LLC (Fla. 5th DCA 2023).
In Re Venice-Oxford Assocs. Ltd. P'ship, 236 B.R. 791 (Bankr. M.D. Fla. 1998).
— 697.07(7) — 1 case
Green Emerald Homes, L L C v. Residential Credit Opportunities Trust, 256 So. 3d 211 (Fla. 2d DCA 2018).
— 697.07(8) — 2 cases
Venice-Oxford Assocs. Ltd. P'ship v. Multifamily Mortg. Trust 1996-1 (In Re Venice-Oxford Assocs. Ltd. P'ship), 236 B.R. 820 (Bankr. M.D. Fla. 1999).
Villamont-Oxford Assocs. Ltd. P'ship v. Multifamily Mortg. Trust 1996-1 (In Re Villamont-Oxford Assocs. Ltd. P'ship), 236 B.R. 467 (Bankr. M.D. Fla. 1999).
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