Florida Statute 727.104 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XLI
STATUTE OF FRAUDS, FRAUDULENT TRANSFERS, AND GENERAL ASSIGNMENTS

Chapter 727
GENERAL ASSIGNMENTS

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F.S. 727.104

727.104 Commencement of proceedings.—

(1)(a) An irrevocable assignment and schedules shall be made in writing, containing the name and address of the assignor and assignee and providing for an equal distribution of the estate according to the priorities set forth in s. 727.114.

(b) The assignment shall be in substantially the following form:

ASSIGNMENT

ASSIGNMENT, made this day of , (year) , between , with a principal place of business at , hereinafter “assignor,” and , whose address is , hereinafter “assignee.”

WHEREAS, the assignor has been engaged in the business of ;

WHEREAS, the assignor is indebted to creditors, as set forth in Schedule A annexed hereto, is unable to pay its debts as they become due, and is desirous of providing for the payment of its debts, so far as it is possible by an assignment of all of its assets for that purpose.

NOW, THEREFORE, the assignor, in consideration of the assignee’s acceptance of this assignment, and for other good and valuable consideration, hereby grants, assigns, conveys, transfers, and sets over, unto the assignee, her or his successors and assigns, all of its assets, except such assets as are exempt by law from levy and sale under an execution, including, but not limited to, all real property, fixtures, goods, stock, inventory, equipment, furniture, furnishings, accounts receivable, bank deposits, cash, promissory notes, cash value and proceeds of insurance policies, claims and demands belonging to the assignor, and all books, records, and electronic data pertaining to all such assets, wherever such assets may be located, hereinafter the “estate,” as which assets are, to the best knowledge and belief of the assignor, set forth on Schedule B annexed hereto.

The assignee shall take possession of, and protect and preserve, all such assets and administer the estate in accordance with the provisions of chapter 727, Florida Statutes, and shall liquidate the assets of the estate with reasonable dispatch and convert the estate into money, collect all claims and demands hereby assigned as may be collectible, and pay and discharge all reasonable expenses, costs, and disbursements in connection with the execution and administration of this assignment from the proceeds of such liquidations and collections.

The assignee shall then pay and discharge in full, to the extent that funds are available in the estate after payment of administrative expenses, costs, and disbursements, all of the debts and liabilities now due from the assignor, including interest on such debts and liabilities. If funds of the estate shall not be sufficient to pay such debts and liabilities in full, then the assignee shall pay from funds of the estate such debts and liabilities, on a pro rata basis and in proportion to their priority as set forth in s. 727.114, Florida Statutes.

If all debts and liabilities are paid in full, any funds of the estate remaining shall be returned to the assignor.

To accomplish the purposes of this assignment, the assignor hereby appoints the assignee its true and lawful attorney, irrevocable, with full power and authority to do all acts and things which may be necessary to execute the assignment hereby created; to demand and recover from all persons all assets of the estate; to sue for the recovery of such assets; to execute, acknowledge, and deliver all necessary deeds, instruments, and conveyances; and to appoint one or more attorneys under her or him to assist the assignee in carrying out her or his duties hereunder.

The assignor hereby authorizes the assignee to sign the name of the assignor to any check, draft, promissory note, or other instrument in writing which is payable to the order of the assignor, or to sign the name of the assignor to any instrument in writing, whenever it shall be necessary to do so, to carry out the purpose of this assignment.

The assignee hereby accepts the trust created by the assignment, and agrees with the assignor that the assignee will faithfully and without delay carry out her or his duties under the assignment.

	Assignor
	Assignee

STATE OF FLORIDA

COUNTY OF

The foregoing assignment was acknowledged before me this day of , (year) , by , as assignor, and by , as assignee, for the purposes therein expressed.

(Signature of Notary Public - State of Florida)

(Print, Type, or Stamp Commissioned Name of Notary Public)

Personally Known OR Produced Identification

Type of Identification Produced

(c) The assignment shall have annexed thereto as Schedule A a true list of all of the assignor’s known creditors, their mailing addresses, the amount and nature of their claims, and whether their claims are disputed; and as Schedule B a true list of all assets of the estate, including the estimated liquidation value of the assets, their location, and, if real property, a legal description thereof, as of the date of the assignment.

(d) The schedules shall be in substantially the following forms:

SCHEDULE A—CREDITOR LIST

1. List all secured creditors showing:
Name	Address	Amount	Collateral	Whether or not disputed
2. List all wages owed showing:
Name	Address	Amount		Whether or not disputed
3. Consumer deposits:
Name	Address	Amount		Whether or not disputed
4. List all taxes owed showing:
Name	Address	Amount		Whether or not disputed
5. List all unsecured claims showing:
Name	Address	Amount		Whether or not disputed
6. List all owners or shareholders showing:
Name	Address		Percent of Ownership
7. List all pending litigation and opposing counsel of record:
Style	Parties	Opposing Counsel of Record

SCHEDULE B—LIST OF ASSETS

List each category of assets and for each give approximate value obtainable for the asset on the date of assignment, and address where asset is located.

I. Nonexempt Property

Description and
Location

Liquidation Value
at Date of Assignment

1. Legal description and street address of real estate, including leasehold interests:

2. Fixtures:

3. Cash and bank accounts:

4. Inventory:

5. Accounts receivable:

6. Equipment:

7. Prepaid expenses, including deposits, insurance, rents, and utilities:

8. Other, including loans to third parties, claims, and choses in action:

II. Exempt Property

Description and
Location

Liquidation Value
at Date of Assignment

(e) The assignment and schedules shall be duly verified upon oath by the assignor, and accepted by the assignee under oath in substantially the following form:

VERIFICATION OF ASSIGNMENT
AND SCHEDULES BY ASSIGNOR

The undersigned, (name) , (position with assignor) of (assignor) , hereby verifies the Assignment of all of its rights, title, and interest in and to all of its assets, as indicated on the attached Schedules to that Assignment as filed with this Court on (date) , and further verifies each of the facts set forth in the Schedules annexed to the Assignment to the best of my knowledge and belief.

Name, Position with Assignor

STATE OF FLORIDA

COUNTY OF

Sworn to and subscribed before me this day of , (year) .

(Signature of Notary Public - State of Florida)

(Print, Type, or Stamp Commissioned Name of Notary Public)

Personally Known OR Produced Identification

Type of Identification Produced

ACCEPTANCE BY ASSIGNEE

The undersigned, (assignee) , the Assignee herein, duly acknowledges that the Assignee accepts delivery of the assignment and that he or she will duly perform the duties imposed upon the Assignee pursuant to chapter 727, Florida Statutes.

Assignee

STATE OF FLORIDA

COUNTY OF

Sworn to and subscribed before me this day of , (year) .

(Signature of Notary Public - State of Florida)

(Print, Type, or Stamp Commissioned Name of Notary Public)

Personally Known OR Produced Identification

Type of Identification Produced

(2) Within 10 days after delivery of the assignment to the assignee, the assignee shall:

(a) Record the original assignment, with or without the schedules, in the official records of the county in which the assignor had its principal place of business and shall thereafter promptly record a certified copy of the assignment, with or without the schedules, in each county in this state in which real property assets of the estate are located. The assignee shall promptly record a certified copy of the assignment, without schedules, in the land records of each recording jurisdiction outside of this state in which real property assets of the estate are located. If a certified copy of the assignment is not acceptable for recording in a particular jurisdiction, the assignee shall record a lis pendens or similar notice of action permitted in that jurisdiction referencing the pendency of the proceedings under this chapter. In either instance, the recorded original assignment, certified copy of the assignment, or lis pendens or similar notice of action shall include the legal description of any real property located in the recording jurisdiction.

(b) File, in the office of the clerk of the court in the county of the assignor’s place of business if it has one, in the county of its chief executive office if it has more than one place of business, or in the county of the assignor’s residence if the assignor is an individual not engaged in business, in accordance with the procedures for filing a complaint as set forth in the Florida Rules of Civil Procedure, a petition setting forth the name and address of the assignor and the name and address of the assignee; a copy of the assignment, together with Schedules A and B; and a request that the court fix the amount of the assignee’s bond to be filed with the clerk of the court. This bond is subject to reconsideration upon the motion of any party in interest after notice and hearing. The bond is payable to the clerk of the court, in an amount not less than $25,000 or double the liquidation value of the unencumbered and liquid assets of the estate as set forth in Schedule B, whichever is higher, conditioned upon the assignee’s faithful discharge of her or his duties. Within 30 days after the court enters an order setting the amount of such bond, the assignee shall file the bond with the clerk of the court, who shall approve the bond.

(3) The court may determine proper compliance with Rule 1.200, Florida Rules of Civil Procedure, in an action filed under this chapter, including, but not limited to, scheduling a case management conference and requiring a periodic status report as warranted by the circumstances of the case.

History.—s. 4, ch. 87-174; s. 2, ch. 89-54; s. 29, ch. 91-110; s. 939, ch. 97-102; s. 17, ch. 98-246; s. 4, ch. 2007-185; s. 2, ch. 2013-244; s. 2, ch. 2023-219.

F.S. 727.104 on Google Scholar

F.S. 727.104 on Casetext

Amendments to 727.104

Arrestable Offenses / Crimes under Fla. Stat. 727.104

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

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 727.104.

Annotations, Discussions, Cases:

Cases Citing Statute 727.104

Total Results: 20

IN RE: ASSIGNMENT FOR THE BENEFIT OF CREDITORS OF MIAMI PERFUME JUNCTION, INC. v. LESLIE S. OSBORNE, etc.

Court: Fla. Dist. Ct. App. | Date Filed: 2020-12-22T23:53:00-08:00

Snippet: may be necessary to execute the assignment.” § 727.104(b), Fla. Stat. (2020). The Assignee’s obligations… In furtherance of these duties, section 727.104(b) requires that the assignment be in substantially

IN RE: ASSIGNMENT FOR THE BENEFIT OF CREDITORS OF MIAMI PERFUME JUNCTION, INC. v. LESLIE S. OSBORNE, etc.

Court: Fla. Dist. Ct. App. | Date Filed: 2020-12-22T23:53:00-08:00

Pro Finish, Inc. v. Estate of All American Trailer Manufacturers, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 2016-08-03T00:00:00-07:00

Citation: 204 So. 3d 505, 2016 Fla. App. LEXIS 11731

Snippet: assignment for the benefit of creditors under section 727.104, Florida Statutes (“ABC Proceeding”). He alleged…chapter 727].” § 727.101, Fla. Stat. (2013). Section 727.104(1), Florida Statutes, pro*507vides the form of … assignment and requires compliance with it. § 727.104(1), Fla. Stat. (2013); see Smith v. Effective Teleservices…substantially follow the required form. “Section 727.104 ... [also] requires the assignee to record the … delivery of the assignment to the assignee. § 727.104(2), Fla. Stat. Here, the record lacks evidence

Akin Bay Company, LLC v. Von Kahle

Court: Fla. Dist. Ct. App. | Date Filed: 2015-12-09T00:00:00-08:00

Citation: 180 So. 3d 1180, 2015 Fla. App. LEXIS 18387, 2015 WL 8345357

Snippet: benefit of creditors, appointed pursuant to section 727.104 of the Florida Statutes (2012), is bound by a mediation…for the benefit of creditors pursuant to Chapter 727.104 in favor of Philip J. Von Kahle as assignee. Pursuant…which may exist, against third parties. See §§ 727.104, 727.108, Fla. Stat. (2012). On July 11, 2014, …assignor for this purpose.' See § 727.104; Naples Awning & Glass, Inc. v. Cirou

Smith v. Effective Teleservices, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 2014-01-08T00:00:00-08:00

Citation: 133 So. 3d 1048, 2014 WL 51686, 2014 Fla. App. LEXIS 144

Snippet: So.2d 141, 143 (Fla. 2d DCA 2005); see also § 727.104(l)(b), Fla. Stat. (2010). The stated intent of …assigned become the “estate” of the assignor. § 727.104(b), *1051Fla. Stat. (2010); § 727.108(9), Fla. …interest was an asset of the estate under sections 727.104(l)(b), 727.103(9), and 727.103(1). Chapter 726

O'Brien v. Stermer

Court: Fla. Dist. Ct. App. | Date Filed: 2012-10-10T00:00:00-07:00

Citation: 98 So. 3d 1245, 2012 WL 4795669, 2012 Fla. App. LEXIS 17346

Snippet: assignee for the benefit of creditors” under section 727.104, Florida Statutes (2010) to marshal and sell the

Moffatt & Nichol, Inc. v. B.E.A. International Corp.

Court: Fla. Dist. Ct. App. | Date Filed: 2010-10-20T00:00:00-07:00

Citation: 48 So. 3d 896, 2010 Fla. App. LEXIS 15828, 2010 WL 4103149

Snippet: the version of section 727.104(b) prior to the 2007 revisions. See § 727.104(b), Fla. Stat. (2006). […duties ("the Assignment Case"). See § 727.104, Fla. Stat. (2008). Two weeks after that, on May…the standard assignment form, found in section 727.104(b), corresponds to the statute by specifically …"claims and choses in action." See § 727.104(b), Fla. Stat. (2008).[4] Thus, under the terms…estate and to convert the estate to money. See §§ 727.104(1)(b), .108, Fla. Stat. (2008). Under the statutory

SS Funding LLC v. Phelan

Court: Fla. Dist. Ct. App. | Date Filed: 2008-05-28T00:00:00-07:00

Citation: 981 So. 2d 1282, 2008 Fla. App. LEXIS 7531, 2008 WL 2185225

Snippet: execution,” to Michael Phelan (“the Assignee”). See § 727.104, Fla. Stat. (2006). The As-signee filed a Petition

Cowan Liebowitz & Latman, PC v. Kaplan

Court: Fla. | Date Filed: 2005-03-16T23:53:00-08:00

Citation: 902 So. 2d 755

Snippet: the assignor" without *763 limitation. § 727.104(1)(b), Fla. Stat. (2000). In commencing a proceeding…including "claims, and choses in action." § 727.104(1)(d), Fla. Stat. (2000). Petitioners must fail…case is not exempt from forced sale under section 727.104, Florida Statutes (2000), because, as discussed

Hillsborough County v. Lanier

Court: Fla. Dist. Ct. App. | Date Filed: 2005-03-08T23:53:00-08:00

Citation: 898 So. 2d 141

Snippet: remaining estate funds. § 727.104(1)(b). Once an assignment is made under section 727.104, all creditors except…petition in the circuit court as required by section 727.104(2)(b). The County filed a proof of claim, asserting…845 So.2d 904, 910 (Fla. 1st DCA 2003). Section 727.104 describes the required contents of an assignment…the estate into money. Consistent with section 727.104(1)(b), the assignment provided that to the extent

State v. Rabb

Court: Fla. Dist. Ct. App. | Date Filed: 2004-06-23T00:53:00-07:00

Citation: 881 So. 2d 587

Snippet: omitted). In Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984), the Supreme

Johnson v. State

Court: Fla. Dist. Ct. App. | Date Filed: 2004-04-14T00:53:00-07:00

Citation: 872 So. 2d 961

Snippet: 1992); see also Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984). In reviewing

Moecker v. Antoine

Court: Fla. Dist. Ct. App. | Date Filed: 2003-03-12T23:53:00-08:00

Citation: 845 So. 2d 904

Snippet: the supervision of the circuit court. Section 727.104 provides a form of assignment, and requires the…of priority provided in section 727.114. See § 727.104(1)(b). Section 727.112(1) provides that all claims

Kaplan v. Cowan Liebowitz & Latman, PC

Court: Fla. Dist. Ct. App. | Date Filed: 2002-10-23T00:53:00-07:00

Citation: 832 So. 2d 138

Snippet: an execution of assignment, pursuant to section 727.104, Florida Statutes (2000), the Assignment for Benefit

State v. Setzler

Court: Fla. Dist. Ct. App. | Date Filed: 1995-10-24T00:00:00-07:00

Citation: 667 So. 2d 343, 1995 WL 619890

Snippet: probable cause. See Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984). [A]fter-the-fact

Cronin v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1995-05-25T00:00:00-07:00

Citation: 656 So. 2d 213, 1995 Fla. App. LEXIS 5641, 1995 WL 313895

Snippet: of record. See Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984). Cf. Recznik

Roper v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1991-11-06T23:53:00-08:00

Citation: 588 So. 2d 330

Snippet: " Id. In Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984), an informant

Schmitt v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1990-06-13T00:53:00-07:00

Citation: 563 So. 2d 1095

Snippet: novo review. Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984). The duty of

State v. Van Pieterson

Court: Fla. Dist. Ct. App. | Date Filed: 1989-10-06T00:00:00-07:00

Citation: 550 So. 2d 1162

Snippet: the warrant. Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984). When a material

Moser v. State

Court: Fla. Dist. Ct. App. | Date Filed: 1985-11-21T00:00:00-08:00

Citation: 478 So. 2d 1146, 1985 Fla. App. LEXIS 17005

Snippet: AFFIRMED. See Massachusetts v. Upton, 466 U.S. 727, 104 S.Ct. 2085, 80 L.Ed.2d 721 (1984). BOOTH, C.J.