Florida Statute 701.02 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XL
REAL AND PERSONAL PROPERTY

Chapter 701
ASSIGNMENT AND CANCELLATION OF MORTGAGES

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F.S. 701.02

701.02 Assignment not effectual against creditors unless recorded and indicated in title of document; applicability.—

(1) An assignment of a mortgage upon real property or of any interest therein, is not good or effectual in law or equity, against creditors or subsequent purchasers, for a valuable consideration, and without notice, unless the assignment is contained in a document that, in its title, indicates an assignment of mortgage and is recorded according to law.

(2) This section also applies to assignments of mortgages resulting from transfers of all or any part or parts of the debt, note or notes secured by mortgage, and none of same is effectual in law or in equity against creditors or subsequent purchasers for a valuable consideration without notice, unless a duly executed assignment be recorded according to law.

(3) Any assignment of a mortgage, duly executed and recorded according to law, purporting to assign the principal of the mortgage debt or the unpaid balance of such principal, shall, as against subsequent purchasers and creditors for value and without notice, be held and deemed to assign any and all accrued and unpaid interest secured by such mortgage, unless such interest is specifically and affirmatively reserved in such an assignment by the assignor, and a reservation of such interest or any part thereof may not be implied.

(4) Notwithstanding subsections (1), (2), and (3) governing the assignment of mortgages, chapters 670-680 of the Uniform Commercial Code of this state govern the attachment and perfection of a security interest in a mortgage upon real property and in a promissory note or other right to payment or performance secured by that mortgage. The assignment of such a mortgage need not be recorded under this section for purposes of attachment or perfection of a security interest in the mortgage under the Uniform Commercial Code.

(5) Notwithstanding subsection (4), a creditor or subsequent purchaser of real property or any interest therein, for valuable consideration and without notice, is entitled to rely on a full or partial release, discharge, consent, joinder, subordination, satisfaction, or assignment of a mortgage upon such property made by the mortgagee of record, without regard to the filing of any Uniform Commercial Code financing statement that purports to perfect a security interest in the mortgage or in a promissory note or other right to payment or performance secured by the mortgage, and the filing of any such financing statement does not constitute notice for the purposes of this section. For the purposes of this subsection, the term “mortgagee of record” means the person named as the mortgagee in the recorded mortgage or, if an assignment of the mortgage has been recorded in accordance with this section, the term “mortgagee of record” means the assignee named in the recorded assignment.

History.—s. 1, ch. 6909, 1915; RGS 3841; CGL 5744; s. 13, ch. 20954, 1941; s. 2, ch. 89-41; s. 20, ch. 2005-241.

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F.S. 701.02 on CourtListener

Amendments to 701.02

Annotations, Discussions, Cases:

Cases Citing Statute 701.02

Total Results: 27

Miner v. Bay Bank & Trust Co. (In Re Miner)

185 B.R. 362, 1995 U.S. Dist. LEXIS 11519, 1995 WL 488330

District Court, N.D. Florida | Filed: Jun 30, 1995 | Docket: 1766278

Cited 24 times | Published

subsequent purchasers for value upon recordation. § 701.02(1), Fla.Stat. (1993). It is undisputed that Miner's

Rucker v. State Exchange Bank

355 So. 2d 171, 23 U.C.C. Rep. Serv. (West) 1020

District Court of Appeal of Florida | Filed: Feb 14, 1978 | Docket: 1360432

Cited 18 times | Published

by recording the assignment as required by Section 701.02, Florida Statutes (1975). The recording of

Colin v. Fidelity Standard Mortgage Corp. (In Re Fidelity Standard Mortgage Corp.)

36 B.R. 496

United States Bankruptcy Court, S.D. Florida. | Filed: Sep 25, 1983 | Docket: 1386525

Cited 14 times | Published

them from property of the estate. Fla.Stats., § 701.02(1), provides: No assignment of a mortgage upon

Valk v. JEM DISTRIBUTORS OF TAMPA BAY

700 So. 2d 416, 1997 WL 593932

District Court of Appeal of Florida | Filed: Sep 26, 1997 | Docket: 1373270

Cited 9 times | Published

next paragraph of the order the court quoted section 701.02, Florida Statutes (1995), subsection (1) of

Weitzner v. Goldman (In Re Kavolchyck)

154 B.R. 793, 1993 Bankr. LEXIS 733

United States Bankruptcy Court, S.D. Florida. | Filed: May 11, 1993 | Docket: 1440838

Cited 6 times | Published

thereunder; or Section 2. Subsection (1) of section 701.02, Florida Statutes, is amended to read: 701

JP Morgan Chase v. New Millennial, LC

6 So. 3d 681, 2009 Fla. App. LEXIS 2221, 2009 WL 691187

District Court of Appeal of Florida | Filed: Mar 18, 2009 | Docket: 1665528

Cited 5 times | Published

assignments received from AmSouth, as required by section 701.02, Florida Statutes (2004). Both sides filed

Lakeside I Corp. v. Citibank (Forida), N.A. (In Re Lakeside I Corp.)

120 B.R. 213, 1990 Bankr. LEXIS 2206, 1990 WL 157363

United States Bankruptcy Court, M.D. Florida | Filed: Sep 28, 1990 | Docket: 1247486

Cited 5 times | Published

purchaser of real property thus by virtue of Fla.Stat. 701.02 defeat the mortgage lien asserted by Citibank

Aum Shree of Tampa, LLC v. HSBC Bank USA (In Re Aum Shree of Tampa, LLC)

449 B.R. 584, 2011 WL 1883031

United States Bankruptcy Court, M.D. Florida | Filed: May 17, 2011 | Docket: 168186

Cited 3 times | Published

Section 506[2]; Count IIfor violation of Fla. Stat. § 701.02 and avoidance of the alleged liens pursuant to

Lloyd v. Chicago Title Ins. Co.

576 So. 2d 310, 1990 Fla. App. LEXIS 8183, 1990 WL 258779

District Court of Appeal of Florida | Filed: Oct 23, 1990 | Docket: 1669759

Cited 3 times | Published

it is entitled to the protection afforded by section 701.02, Florida Statutes (1987), which invalidates

Brandenburg v. Residential Credit Solutions, Inc.

137 So. 3d 604, 2014 WL 1795756, 2014 Fla. App. LEXIS 6717

District Court of Appeal of Florida | Filed: May 7, 2014 | Docket: 60240387

Cited 2 times | Published

mortgagees against other assignees. See generally § 701.02, Fla. Stat. (2013); JP Morgan Chase v. New Millennial

Eldeeb v. Chertoff

619 F. Supp. 2d 1190, 2007 U.S. Dist. LEXIS 55000, 2007 WL 2209231

District Court, M.D. Florida | Filed: Jul 30, 2007 | Docket: 2390178

Cited 2 times | Published

non-discretionary duty in the instant case, under § 701(2), this Court is without jurisdiction under the

Slachter v. Swanson

826 So. 2d 1012, 2001 WL 194059

District Court of Appeal of Florida | Filed: Feb 28, 2001 | Docket: 1198225

Cited 2 times | Published

hand, Swanson argues that he is protected by section 701.02, Florida Statutes (1995), as he took title

Kapila v. Atlantic Mortgage & Investment Corp.

184 F.3d 1335, 42 Collier Bankr. Cas. 2d 1173, 1999 U.S. App. LEXIS 19741, 34 Bankr. Ct. Dec. (CRR) 1119, 1999 WL 635513

Court of Appeals for the Eleventh Circuit | Filed: Aug 20, 1999 | Docket: 395455

Cited 1 times | Published

defeat the rights of the appellees. Fla. Stat. § 701.02 provides: (1) No assignment of a mortgage

Thomas Crowther v. Board of Regents of the University System of Georgia

Court of Appeals for the Eleventh Circuit | Filed: Nov 7, 2024 | Docket: 69351942

Published

educational institutions. Pub. L. No. 92-261, § 701–02, 86 Stat. 103, 103–04 (Mar. 24, 1972). That ex-

Travelers Property Casualty Company of America v. Ocean Reef Charters LLC

Court of Appeals for the Eleventh Circuit | Filed: Jun 23, 2023 | Docket: 66655398

Published

Argued: Dec 16, 2022

al., 3 Federal Rules of Evidence Manual § 701.02[7] (Matthew Bender 12th ed.) (“When the [treating]

GULAM JAFFER v. 153 REHC LLC, etc.

District Court of Appeal of Florida | Filed: Jun 1, 2022 | Docket: 63352034

Published

207 So. 3d 304, 307 (Fla. 3d DCA 2016) (“‘[Section] 701.02’s recording requirement is applicable only

Barton v. Metrojax Property Holdings, LLC

207 So. 3d 304

District Court of Appeal of Florida | Filed: Nov 16, 2016 | Docket: 4539045

Published

recording of its liens, based on the application of section 701.02(1) of the Florida Statutes, 1 the

Deutsche Bank National Trust Company v. Hagstrom

203 So. 3d 918, 2016 Fla. App. LEXIS 11054

District Court of Appeal of Florida | Filed: Jul 20, 2016 | Docket: 4112457

Published

regard to assignments of mortgages. Moreover, section 701.02(4) specifically states that chapters 670-680

HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., and U.S. Bank, N.A.

165 So. 3d 696, 86 U.C.C. Rep. Serv. 2d (West) 565, 2015 Fla. App. LEXIS 6716, 2015 WL 2078683

District Court of Appeal of Florida | Filed: May 6, 2015 | Docket: 2679361

Published

resolve the dispute, the circuit court applied section 701.02, Florida Statutes (2008), the recording statute

Fidelity Land Trust Co. v. Centex Home Equity Co.

903 F. Supp. 2d 1317, 2012 WL 5383092, 2012 U.S. Dist. LEXIS 161170

District Court, M.D. Florida | Filed: Nov 2, 2012 | Docket: 65986324

Published

assignment of mortgage pursuant to Florida Statute § 701.02 (Count II), discharging unidentified unrecorded

Fuller v. Mortgage Electronic Registration Systems, Inc.

888 F. Supp. 2d 1257, 2012 WL 3733869, 2012 U.S. Dist. LEXIS 123320

District Court, M.D. Florida | Filed: Jun 27, 2012 | Docket: 65984503

Published

assignment of a mortgage against those creditors. Section 701.02(1), Florida Statutes provides that a mortgage

In Re American Equity Corp. of Pinellas

332 B.R. 645, 19 Fla. L. Weekly Fed. B 90, 2005 Bankr. LEXIS 2100, 2005 WL 2952601

United States Bankruptcy Court, M.D. Florida | Filed: Oct 4, 2005 | Docket: 1571279

Published

not recorded with the assignments. Under Florida Statute 701.02, an assignment is effective if it indicates

Kapila v. Farragut Mortgage Co.

184 F.3d 1335

Court of Appeals for the Eleventh Circuit | Filed: Aug 20, 1999 | Docket: 925402

Published

defeat the rights of the appellees. Fla. Stat. § 701.02 provides: (1) No assignment of a mortgage

Kapila v. Farragut Mortgage Co. (In Re Halabi)

196 B.R. 631, 9 Fla. L. Weekly Fed. B 404, 1996 Bankr. LEXIS 613

United States Bankruptcy Court, S.D. Florida. | Filed: Jan 25, 1996 | Docket: 1759709

Published

pursuant to Fla.Stat. § 701.02 and 11 U.S.C. §§ 544 and 549. According to Fla.Stat. § 701.02: (1) No assignment

Smith v. Federal Deposit Insurance

61 F.3d 1552

Court of Appeals for the Eleventh Circuit | Filed: Aug 28, 1995 | Docket: 64021646

Published

sale of the second mortgage.7 See Fla.Stat.Ann. § 701.02(1) (West 1994).8 The FDIC responds that asset

American Bank of the South v. Rothenberg

598 So. 2d 289, 1992 Fla. App. LEXIS 5223, 1992 WL 100644

District Court of Appeal of Florida | Filed: May 15, 1992 | Docket: 64667152

Published

judgment. Rothenberg argued that pursuant to section 701.02(1), Florida Statutes (1991),1 American Bank’s

In Re Lakeside I. Corp.

104 B.R. 468, 1989 Bankr. LEXIS 1554, 1989 WL 105907

United States Bankruptcy Court, M.D. Florida | Filed: Aug 31, 1989 | Docket: 1540334

Published

mortgage on record which is required by Fla.Stat. § 701.02 as a condition to the enforceability of a mortgage