'Sequestering' Condo Rental Income Improper Without Pleading, Appeals Court Rules
Deutsche Bank National Trust went too far when it "sequestered" rental income from a condominium in foreclosure, Florida's Third District Court of Appeal found.
April 17, 2017 at 09:23 PM
7 minute read
Deutsche Bank National Trust went beyond the scope of its complaint when it “sequestered” rental income from a condominium in foreclosure, Florida's Third District Court of Appeal found.
The bank foreclosed on investment property belonging to North Miami-based borrower UV Cite III LLC in 2016. While the case was pending, it moved to require that the defendant deposit into the court registry all rent from tenants occupying the Sailboat Cay condo. At trial after a hearing, Deutsche Bank succeeded on a motion to have UV Cite deposit rents into the court registry. It later won release of all funds in the registry as the prevailing party.
But the borrower objected, arguing the trial court lacked subject matter jurisdiction and had provided more relief than Deutsche Bank sought in its complaint.
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