Florida Statutes

Fla. Stat. § 701.02 (2025)

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

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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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.

Notes of Decisions

Cited in 26 cases, 1978–2016 · leading case: HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., & U.S. Bank, N.A., 165 So. 3d 696 (Fla. 4th DCA 2015).

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HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., & U.S. Bank, N.A., 165 So. 3d 696 (Fla. 4th DCA 2015). · cites it 34× “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…”

Barton v. Metrojax Prop. Holdings, LLC, 207 So. 3d 304 (Fla. 3d DCA 2016). · cites it 18× “”) (citing § 701.02, Fla. Stat. (2013); JP Morgan, 6 So.”

JP Morgan Chase v. New Millennial, LC, 6 So. 3d 681 (Fla. 2d DCA 2009). · cites it 11× “2 Rather, they defended by arguing that the mortgages were ineffective and unenforceable against them because JP Morgan had not recorded the assignments received from AmSouth, as required by section 701.02, Florida Statutes (2004). Both sides filed motions for summary judgment.”

Aum Shree of Tampa, LLC v. HSBC Bank USA (In Re Aum Shree of Tampa, LLC), 449 B.R. 584 (Bankr. M.D. Fla. 2011). · cites it 8× “The Amended Complaint states claims for relief against HSBC as follows: Count I — to value HSBC’s claim and to avoid its alleged liens pursuant to Section 506 2 ; Count II — for violation of Fla. Stat. § 701.02 and avoidance of the alleged liens pursuant to Section 544; Count…”

Weitzner v. Goldman (In Re Kavolchyck), 154 B.R. 793 (Bankr. S.D. Florida 1993). · cites it 8× “Subsection (1) of section 701.02, Florida Statutes, is amended to read: 701.”

Willson v. MLA, Inc. (In Re Ascot Mortg., Inc.), 153 B.R. 1002 (Bankr. N.D. Ga. 1993). · cites it 6× “” Commentators and case law suggest that Fla.Stat. Ann. § 701.02 pertains to contests between the mortgagor (or his successor) and a mortgagee’s successor.”

Deutsche Bank Nat'l Trust Co. v. Hagstrom, 203 So. 3d 918 (Fla. 2d DCA 2016). · cites it 2× “Moreover, section 701.02(4) specifically states that chapters 670-680 of the UCC "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.”

Noland v. Wells Fargo Bank N.A. (In Re Williams), 395 B.R. 33 (Bankr. S.D. Ohio 2008). · cites it 2× “” Fla. Stat. § 701.02 . 4. The Holder of the Mortgage Holds the Mortgage in Trust for the Benefit of the Holder of the Note and Any Separation between the Holder of the Mortgage and the Holder of the Note Does not Impact the Enforceability of the Note or the Mortgage.”

Colin v. Fid. Stand. Mortg. Corp. (In Re Fid. Stand. Mortg. Corp.), 36 B.R. 496 (Bankr. S.D. Florida 1983). · cites it 3× “, § 701.02. See discussion in In re Adana Mortgage Bankers, Inc.”

Kapila v. Atl. Mortg. & Inv. Corp., 184 F.3d 1335 (11th Cir. 1999). · cites it 4× “Fla. Stat. § 701.02 provides: (1) No assignment of a mortgage upon real property or of any interest therein, shall be good or effectual in law or equity against creditors or subsequent purchasers, for a valuable consideration, and without notice, unless the assignment is…”

Fuller v. Mortg. Elec. Reg. Sys., Inc., 888 F. Supp. 2d 1257 (M.D. Fla. 2012). · cites it 2× “Section 701.02(1), Florida Statutes provides that a mortgage assignment is not effective in providing constructive notice to creditors and subsequent purchasers unless it is recorded.”

Rucker v. State Exch. Bank, 355 So. 2d 171 (Fla. 1st DCA 1978). · cites it 2× “Rather, it considers that its interest in a real estate mortgage is protected by recording the assignment as required by Section 701.02, Florida Statutes (1975). The recording of the assignment gives constructive notice of its interest in the mortgage to the world.”

Show all 26 citing cases →

— 701.02(1) — 11 cases

Barton v. Metrojax Prop. Holdings, LLC, 207 So. 3d 304 (Fla. 3d DCA 2016). “”) (citing § 701.02, Fla. Stat. (2013); JP Morgan, 6 So.”

Fuller v. Mortg. Elec. Reg. Sys., Inc., 888 F. Supp. 2d 1257 (M.D. Fla. 2012). “Section 701.02(1), Florida Statutes provides that a mortgage assignment is not effective in providing constructive notice to creditors and subsequent purchasers unless it is recorded.”

Weitzner v. Goldman (In Re Kavolchyck), 154 B.R. 793 (Bankr. S.D. Florida 1993). “Subsection (1) of section 701.02, Florida Statutes, is amended to read: 701.”

Colin v. Fid. Stand. Mortg. Corp. (In Re Fid. Stand. Mortg. Corp.), 36 B.R. 496 (Bankr. S.D. Florida 1983). “, § 701.02. See discussion in In re Adana Mortgage Bankers, Inc.”

HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., & U.S. Bank, N.A., 165 So. 3d 696 (Fla. 4th DCA 2015). “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…”

— 701.02(4) — 2 cases

Deutsche Bank Nat'l Trust Co. v. Hagstrom, 203 So. 3d 918 (Fla. 2d DCA 2016). “Moreover, section 701.02(4) specifically states that chapters 670-680 of the UCC "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.”

— 701.02(l) — 1 case

Barton v. Metrojax Prop. Holdings, LLC, 207 So. 3d 304 (Fla. 3d DCA 2016). “”) (citing § 701.02, Fla. Stat. (2013); JP Morgan, 6 So.”

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