Florida Statutes
Fla. Stat. § 702.06 (2025)
Deficiency decree; common-law suit to recover deficiency.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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702.06 Deficiency decree; common-law suit to recover deficiency.—In all suits for the foreclosure of mortgages heretofore or hereafter executed the entry of a deficiency decree for any portion of a deficiency, should one exist, shall be within the sound discretion of the court; however, in the case of an owner-occupied residential property, the amount of the deficiency may not exceed the difference between the judgment amount, or in the case of a short sale, the outstanding debt, and the fair market value of the property on the date of sale. For purposes of this section, there is a rebuttable presumption that a residential property for which a homestead exemption for taxation was granted according to the certified rolls of the latest assessment by the county property appraiser, before the filing of the foreclosure action, is an owner-occupied residential property. The complainant shall also have the right to sue at common law to recover such deficiency, unless the court in the foreclosure action has granted or denied a claim for a deficiency judgment.
Notes of Decisions
Cited in 85
cases (5 in the last 5 years), 1951–2025 · leading case: Sylvia Higgins & Collier Higgins v. Dyck O'Neal, Inc., 201 So. 3d 157 (Fla. 1st DCA 2016).
Sylvia Higgins & Collier Higgins v. Dyck O'Neal, Inc., 201 So. 3d 157 (Fla. 1st DCA 2016). “” § 702.06, Fla. Stat.; Ch. 2013-137, Laws of Fla.”
Dyck-O'Neal, Inc. v. Heather Lanham, 257 So. 3d 1 (Fla. 2018). “§ 702.06, Fla. Stat. (2014) (emphasis added).”
Aluia v. Dyck-O'Neal, Inc., 205 So. 3d 768 (Fla. 2d DCA 2016). “4th DCA 2012) (quoting § 702.06, Fla. Stat. 2008). It would defy logic to say that — solely because DONI elected to file the statutorily permitted independent action to pursue the deficiency — venue no longer lies in Florida but that if DONI had been substituted party plaintiff…”
Garcia v. Dyck-O'Neal, Inc., 178 So. 3d 433 (Fla. 3d DCA 2015). “§ 702.06, Fla. Stat. (2014) (emphasis added).”
WHITNEY BANK, a Mississippi state v. Von Daniel Grant Jr., & Lisa D. Grant, 223 So. 3d 476 (Fla. 1st DCA 2017). “See § 702.06, Fla. Stat. (the amount of deficiency after a short sale is measured by the difference between the outstanding debt and the fair market value of the property on the date of sale).”
Royal Palm Corp. Ctr. Ass'n v. PNC Bank, NA, 89 So. 3d 923 (Fla. 4th DCA 2012). “Although the reporters of the Restatement seem to believe that section 702.06 is something of a one-action rule, see Restatement (Third) of Property (Mortgages) § 8.”
Dyck-O' Neal, Inc. v. Weinberg, 190 So. 3d 137 (Fla. 3d DCA 2016). “Based on the unambiguous language of section 702.06, Florida Statutes (2013) and the holding in Garcia v.”
Dyck-O'Neal, Inc. v. Beckett, 200 So. 3d 179 (Fla. 5th DCA 2016). “pertinent part: In all suits for the foreclosure of mortgages heretofore or hereafter executed the entry of a deficiency decree for any portion of a deficiency, should one exist, shall be within the sound discretion of the court; however, in the case of an owner-occupied…”
Gdovin v. Dyck-O'Neal, Inc., 198 So. 3d 986 (Fla. 2d DCA 2016). “The question here is whether a circuit court has subject matter jurisdiction to adjudicate an independent deficiency action when the plaintiff had requested deficiency relief in its complaint in a separate foreclosure action involving the same note and the foreclosure court had…”
John Cheng v. Dyck-O'Neal, Inc., 199 So. 3d 932 (Fla. 4th DCA 2016). “3d DCA 2016), that section 702.06, Florida Statutes, is unambiguous: “The complainant shall also have the right to sue at common law to recover such deficiency, unless the court in the foreclosure action has granted or denied a claim for a deficiency judgment.”
De Las Cuevas v. Nat'l Enter., Inc., 927 So. 2d 41 (Fla. 3d DCA 2006). “§ 702.06, Fla. Stat. (2005). This statute has been interpreted to allow a post-foreclosure action to recover the balance due on a note where the court in a foreclosure action did not adjudicate the issue of a deficiency.”
Dyck-O'Neal, Inc. v. McKenna, 198 So. 3d 1038 (Fla. 4th DCA 2016). “640 motion for relief from judgment on the ground that the trial court lacked jurisdiction to consider the deficiency action because the final judgment of foreclosure included an express reservation of jurisdiction to enter a deficiency judgment.”
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