CopyCited 8 times | Published | United States Bankruptcy Court, M.D. Florida | 14 Fla. L. Weekly Fed. B 411, 2001 Bankr. LEXIS 1361
...S.D.Fla.1985) ( citing Fla. Stat. §
475.482). [25] The Fund is a remedial device through which the FREC can reimburse members of the public who have been defrauded or otherwise monetarily harmed by a member of the real estate profession. Florida Statute §
475.483 [26] provides that, before White can recover from the Fund, White must obtain a final judgment against the Debtor....
...Rather, where a broker files a bankruptcy petition, the party alleging wrongful conduct "must seek to have assets involving the real estate transaction that gave rise to the claim removed from the bankruptcy proceedings so that the matter might be heard in a court of competent civil jurisdiction . . ." Fla. Stat. § 475.483 (2000)....
...was the seller, buyer, landlord, or tenant in the transaction; and (c) Was acting solely in the capacity of a real estate licensee in the transaction; provided the act was a violation proscribed in s.
475.25 or s.
475.42. Fla. Stat. §
475.482. [26]
475.483....
...ent civil jurisdiction in this state. If, after due diligence, the claimant is precluded by action of the bankruptcy court from securing a final judgment against the licensee, the commission may waive the requirement for a final judgment. Fla. Stat. § 475.483....
CopyCited 8 times | Published | Florida 4th District Court of Appeal | 1990 WL 70621
...Section
475.482, Florida Statutes (1989), Real Estate Recovery Fund, provides for the reimbursement of persons who suffer monetary losses because of the unscrupulous acts of licensed brokers or salespersons. The legislative intent to authorize private actions is made clear by the condition imposed by section
475.483(1)(a), Florida Statutes (1989), which allows recovery from the fund if "such person has received final judgment ......
CopyCited 1 times | Published | Florida 4th District Court of Appeal | 2009 Fla. App. LEXIS 17683, 2009 WL 4061078
...3,900 from the Fund. After a hearing, the Commission denied the claim, based on two grounds. First, the Commission con- *836 eluded that Dorcely did not file his claim within two years of becoming aware of Malhotra’s fraudulent act, as required by section 475.483(l)(c), Florida Statutes (2008)....
...To be “eligible to seek recovery” a person must make a claim for recovery: within 2 years from the time of the act giving rise to the claim or within 2 years from the time the act is discovered or should have been discovered with the exercise of due diligence. § 475.483(l)(c), Fla. Stat. (2008). As the Commission found, Dorcely failed to comply with the time limitations of section 475.483(l)(c)....
...court of competent civil jurisdiction” adjudge that the claimant has “suffered monetary damages by reason of any act committed as a part of any real estate brokerage transaction.” However, this *837 section does not alter the plain language of section 475.483(l)(c), which measures the two-year limitations period from “the time the [wrongful] act is discovered or should have been discovered with the exercise of due diligence,” not from the time a final judgment is obtained....
...rom the Fund. Dorcely relies on Riggs v. Department of Professional Regulation, Florida Real Estate Commission,
530 So.2d 980 (Fla. 5th DCA 1988), but that case does not control here. Riggs broadly construed the term “real estate transaction” in section
475.483(2)(c), Florida Statutes (1985), to include a situation where a real estate salesman purchased property with his client’s down payment and entered into a written, unrecorded contract for deed with the client....
CopyCited 1 times | Published | Florida 5th District Court of Appeal
...mplies that one exists. Not only does chapter 475 make several references to a civil cause of action based upon violations of its provisions, 1 it bases recovery from the Real Estate Recovery Fund upon obtaining a final judgment for such violations. § 475.483(1)(a), Fla....
...We therefore reverse the order dismissing the fraud claim and the private cause of action pursuant to chapter 475. We otherwise affirm. AFFIRMED in part; REVERSED in part; and REMANDED. EVANDER, C.J., LAMBERT and EISNAUGLE, JJ., concur. See, e.g. , §§
475.42(2),
475.482,
475.483, Fla....
CopyPublished | District Court of Appeal of Florida | 12 Fla. L. Weekly 2601, 1987 Fla. App. LEXIS 10982
...ot considered at the meeting where their claim was denied. The commission’s order set forth findings of fact and concluded that the Varneys had met the conditions for recovery but had not filed their claim within the two year period as required by section 475.483(l)(c), Florida Statutes (1985)....
CopyPublished | District Court of Appeal of Florida | 1992 Fla. App. LEXIS 5048, 1992 WL 93651
...The Commission conducted a hearing and at the conclusion of the hearing denied the appellant’s claim. The Commission found that the appellant had complied with the asset search requirements, and had provided notification of its claim within the two-year time frame, set forth in section 475.483....
...the Fund, 1 because any commission paid or monies received at closing went to Westbay, which was not and is not registered as a real estate brokerage. The findings and the reasoning of the Commission are not determinative of the issue in this case. Section 475.483(l)(a) provides that a person is eligible to seek recovery from the Fund if “[s]uch person has received final judgment in a court of competent jurisdiction in this state in any action wherein the cause of action was based on a real estate brokerage transaction or any violation proscribed in s....
...Therefore, the appellant is eligible to recover only $22,428.78 from the Fund. We therefore reverse and remand with instructions that the appellant’s claim of $22,428.78 be paid. Reversed and remanded. HALL, A.C.J., and PARKER, J., concur. . The Commission cited §§
475.42(l)(k) and
475.483(2)(d), Fla.Stat....
CopyPublished | Florida 4th District Court of Appeal | 1987 Fla. App. LEXIS 6823, 12 Fla. L. Weekly 571
Florida Real Estate Commission pursuant to section
475.483(l)(b), Florida Statutes. The Commission did
CopyPublished | Florida 5th District Court of Appeal | 1988 WL 82269
...Gargano of Leasure & Gargano, P.A., Ft. Meyers, for appellants. Robert A. Butterworth, Atty. Gen., Tallahassee, and Manuel E. Oliver, Asst. Atty. Gen., Orlando, for appellee. COWART, Judge. The question in this case is whether a claim against the Real Estate Recovery Fund (§ 475.483(1)(c), Fla....
...them in the foreclosure action. The Riggses cross-claimed and obtained a money judgment against the Gaylords and filed a claim against the Florida Real Estate Recovery Fund. The Florida Real Estate Commission denied the claim and the Riggses appeal. Section 475.483(2)(c), Florida Statutes, provides that: *981 (2) A person is not qualified to make a claim for recovery from the Real Estate Recovery Fund, if: * * * * * * (c) Such person's claim is based upon a real estate transaction in which the l...
CopyPublished | Florida 5th District Court of Appeal
...mplies that one exists. Not only does chapter 475 make several references to a civil cause of action based upon violations of its provisions, 1 it bases recovery from the Real Estate Recovery Fund upon obtaining a final judgment for such violations. § 475.483(1)(a), Fla....
...We therefore reverse the order dismissing the fraud claim and the private cause of action pursuant to chapter 475. We otherwise affirm. AFFIRMED in part; REVERSED in part; and REMANDED. EVANDER, C.J., LAMBERT and EISNAUGLE, JJ., concur. See, e.g. , §§
475.42(2),
475.482,
475.483, Fla....
CopyPublished | Florida 5th District Court of Appeal | 1995 Fla. App. LEXIS 3705, 1995 WL 214644
...25.” See §
475.482(1), *582 Fla.Stat. (1991). 1 Therefore, the judgment obtained by the Smiths against Gauthier did not satisfy the requirements of the recovery fund legislation and the Smiths are not entitled to payment out of the recovery fund. Section
475.483(2)(c), Florida Statutes (1991), bars recovery out of the recovery fund if the subject claim “is based upon a real estate transaction in which the licensed broker or sales person was acting with respect to the property owned or contr...
...When Gaylord failed to make his mortgage payments to the bank and foreclosure was instituted, Riggs cross-claimed against Gay-lord and obtained a money judgment. Riggs then filed a claim against the Florida Real Estate Recovery Fund, which was denied by the Florida Real Commission on the basis of section 475.483(2)(c), Florida Statutes — ie., Gaylord was acting on his own behalf with respect to property owned or controlled by him and therefore fell within the statutory exclusion....
...ons of this chapter; or (b) Obtaining money or property by fraud, misrepresentation, deceit, false pretenses, artifice, or trickery or by any other act which would constitute a violation proscribed in s.
475.25. (Emphasis added). Additionally, under section
475.483(1), Florida Statutes (1991), Any person is eligible to seek recovery from the Real Estate Recovery Fund if: (a) Such person has received final judgment in a court of competent jurisdiction in this state in any action wherein the cause...
