Coronavirus (COVID-19)

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On April 2, 2020, Governor Ron DeSantis issued Executive Order No. 20-94 (“E.O. 20-94”), which addressed mortgage foreclosure and eviction relief. In the preamble (i.e., the “whereas” section), the Governor recited that the Federal Housing Administration implemented an immediate foreclosure and eviction moratorium for FHA-insured single-family mortgages for at least 60 days, and recited that the Federal Housing Finance Agency similarly directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for Enterprise-backed single-family mortgages for at least 60 days. Based on those Federal moratoriums, Gov. DeSantis issued E.O. 20-94.

The language of E.O. 20-94 states:

  • Section 1: I hereby suspend and toll any statute providing for a mortgage foreclosure cause of action under Florida law for 45 days.
  • Section 2: I hereby suspend and toll any statue providing for an eviction cause of action under Florida law solely as it relates to non-payment of rent by resident tenants due to the COVID-19 emergency for 45 days.
  • Section 3: Nothing in this Executive Order shall be construed as relieving an individual from their obligation to make mortgage payments or rent payments.

Continue Reading COVID-19: Mortgage Foreclosure and Eviction Relief

It’s no secret that the COVID-19 epidemic is affecting virtually every sector in some way, shape, or form. The real estate sector is no exception. Although the modern real estate world has slowly moved away from face-to-face deals, there are still aspects of real estate that require some type of face-to-face contact.

How do we keep moving forward while remaining safe and healthy?

With most banks, law firms, and offices closing up to the general public, you may be wondering how to fulfill the time constraints of your contract and how a deal can be closed. In our downtown Fort Myers office, we have set-up a drive-thru conference room for signings.

Discuss the best options and next steps with your real estate attorney. Depending on the contents of your contract and individual situation, a contract extension may be the best option. However, it may also be feasible to continue to closing using the proper resources.

Force majeure clauses

Continue Reading COVID-19 Impact on Real Estate Contracts and Closings