Chapter 714 — Chapter 714
28 sections in this chapter.
Fla. Stat. § 714.01 Short title
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This chapter may be cited as the “Uniform Commercial Real Estate Receivership Act.”
Fla. Stat. § 714.02 Definitions
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For the purposes of this chapter, the term:(1) “Affiliate” means:(a) With respect to an individual:1. A companion of the individual;2. A lineal ancestor or descendant, whether by blood or adoption, of:a. The individual; orb. A companion of the individual;3. A companion of an ance…
Fla. Stat. § 714.03 Notice and opportunity for hearing
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(1) Except as otherwise provided in subsection (2), the court may issue an order under this chapter only after notice and opportunity for a hearing appropriate under the circumstances.(2) The court may issue an order under this chapter without written or oral notice to the advers…
Fla. Stat. § 714.04 Scope; exclusions
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(1) This chapter applies to a receivership initiated in a court of this state for an interest in real property and any incidental personal property related to or used in operating the real property.(2) This chapter does not apply to:(a) Actions in which a state agency or officer …
Fla. Stat. § 714.05 Power of the court
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The court that appoints a receiver under this chapter has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property.
Fla. Stat. § 714.06 Appointment of receiver
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(1) The court may appoint a receiver:(a) Before judgment, to protect a party that demonstrates an apparent right, title, or interest in real property that is the subject of the action, if the property or its revenue-producing potential:1. Is being subjected to or is in danger of …
Fla. Stat. § 714.07 Disqualification from appointment as receiver; disclosure of interest
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(1) The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified.(2) Except as otherwise provided in subsection (3), a person is disqualified from appointment as receiver if the pers…
Fla. Stat. § 714.08 Receiver’s bond; alternative security
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(1) Except as otherwise provided in subsection (2), a receiver shall post with the court a bond that:(a) Is conditioned on the faithful discharge of the receiver’s duties;(b) Has one or more sureties approved by the court;(c) Is in an amount the court specifies; and(d) Is effecti…
Fla. Stat. § 714.09 Status of receiver as lien creditor
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Upon appointment of a receiver, the receiver has the status of a lien creditor under:(1) Chapter 679 as to receivership property or fixtures; and(2) Chapter 695 as to receivership property that is real property. (1) Chapter 679 as to receivership property or fixtures; and (2) Cha…
Fla. Stat. § 714.10 Security agreement covering after-acquired property
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Except as otherwise provided by law other than this chapter, property that a receiver or an owner acquires after appointment of the receiver is subject to a security agreement entered into before the appointment to the same extent as if the court had not appointed the receiver.
Fla. Stat. § 714.11 Collection and turnover of receivership property
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(1) Unless the court orders otherwise, on demand by a receiver:(a) A person that owes a debt that is receivership property and is matured or payable on demand or on order shall pay the debt to or on the order of the receiver, except to the extent the debt is subject to setoff or …
Fla. Stat. § 714.12 Powers and duties of receiver
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(1) Except as limited by court order or the laws of this state other than this chapter, a receiver may:(a) Collect, control, manage, conserve, and protect receivership property;(b) Operate a business constituting receivership property, including preservation, use, sale, lease, li…
Fla. Stat. § 714.13 Duties of owner
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(1) An owner shall:(a) Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver’s duties;(b) Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control;(c) Identify all …
Fla. Stat. § 714.14 Stay; injunction
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(1) Except as otherwise provided in subsection (5), after notice and opportunity for a hearing, the court may enter an order providing for a stay, applicable to all persons, of any act, action, or proceeding:(a) To obtain possession of, exercise control over, or enforce a judgmen…
Fla. Stat. § 714.15 Engagement and compensation of professional
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(1) With court approval, a receiver may engage an attorney, an accountant, an appraiser, an auctioneer, a broker, or another professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court:(a) The identity a…
Fla. Stat. § 714.16 Use or transfer of receivership property not in ordinary course of business
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(1) For the purposes of this section, the term “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.(2) Before judgment is entered with respect to the receivership property in the action in which the receiver is appointed, with …
Fla. Stat. § 714.17 Executory contract
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(1) For the purposes of this section, the term “timeshare interest” has the same meaning as in s. 721.05(36).(2) Except as otherwise provided in subsection (8), with court approval, a receiver may adopt or reject an executory contract of the owner relating to receivership propert…
Fla. Stat. § 714.18 Defenses and immunities of receiver
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(1) A receiver is entitled to all defenses and immunities provided by the laws of this state other than this chapter for an act or omission within the scope of the receiver’s appointment.(2) A receiver may be sued personally for an act or omission in administering receivership pr…
Fla. Stat. § 714.19 Interim report of receiver
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A receiver may file or, if ordered by the court, shall file an interim report that includes:(1) The activities of the receiver since appointment or a previous report;(2) Receipts and disbursements, including a payment made or proposed to be made to a professional engaged by the r…
Fla. Stat. § 714.20 Notice of appointment; claim against receivership; distribution to creditors
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(1) Except as otherwise provided in subsection (6), a receiver shall give notice of appointment of the receiver to creditors of the owner by:(a) Deposit for delivery through first-class mail or other commercially reasonable delivery method to the last known address of each credit…
Fla. Stat. § 714.21 Fees and expenses
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(1) The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver.(2) The court may order one or more of the following to pay the reasonable and necessary…
Fla. Stat. § 714.22 Removal of receiver; replacement; termination of receivership
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(1) The court may remove a receiver for cause.(2) The court shall replace a receiver that dies, resigns, or is removed.(3) If the court finds that a receiver that resigns or is removed, or the representative of a receiver that is deceased, has accounted fully for and turned over …
Fla. Stat. § 714.23 Final report of receiver; discharge
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(1) Upon completion of a receiver’s duties, the receiver shall file a final report including:(a) A description of the activities of the receiver in the conduct of the receivership;(b) A list of receivership property at the commencement of the receivership and any receivership pro…
Fla. Stat. § 714.24 Receivership in another state; ancillary proceeding
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(1) The court may appoint a receiver appointed in another state, or that person’s nominee, as an ancillary receiver with respect to property located in this state or subject to the jurisdiction of the court for which a receiver could be appointed under this chapter, if:(a) The pe…
Fla. Stat. § 714.25 Effect of enforcement by mortgagee
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A request by a mortgagee for the appointment of a receiver, the appointment of a receiver, or the application by a mortgagee of receivership property or proceeds to the secured obligation does not:(1) Make the mortgagee a mortgagee in possession of the real property;(2) Make the …
Fla. Stat. § 714.26 Uniformity of application and construction
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In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that have enacted a similar law.
Fla. Stat. § 714.27 Relation to Electronic Signatures in Global and National Commerce Act
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This act modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. ss. 7001 et seq., but does not modify, limit, or supersede s. 101(c) of that act, 15 U.S.C. s. 7001(c), or authorize electronic delivery of any of the notices describ…
Fla. Stat. § 714.28 Transition
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This chapter does not apply to a receivership for which the receiver was appointed before July 1, 2020.