Analysis

Ruling Puts Banks On Hook For Fla. Real Estate Back Taxes

Law360, Miami (October 27, 2017, 8:25 PM EDT) -- When a mortgage company loaned money to a Miami buyer in 2007, the lender didn’t know the homeowner would improperly claim a homestead property tax exemption. It wasn’t until seven years later that the county would file a lien for the unpaid taxes, a lien that a Florida appeals court now says applies retroactively and takes priority over the mortgage.

The decision, issued Oct. 18, could cause headaches for lenders and title insurers who will now need to worry about priority liens popping up after closing and applying retroactively.

“When you look at the tax rolls, everybody can quickly confirm how...

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