NEWS

New Decision: Interest (Sterling Villages of PB Lakes v. Lacroze)
November 06, 2018

A decision addressing when interest accrues, originally issued on July 5, was significantly changed on re-hearing. In a condominium association lien foreclosure action the appellate court originally held that interest would be calculated from the date of the claim of lien.

In Sterling Villages of Palm Beach Lakes Cd’m Ass’n, Inc. v. Lacroze, Case No. 4D17-1385 (Fla. 4th DCA September 12, 2018), the Fourth District Court of Appeal granted a motion for re-hearing and withdrew its July 5, 2018, opinion. On re-hearing the court held that “prejudgment interest should be calculated from the date when unpaid assessments became due. The court relied on First Equitable Realty III, Ltd. V. The Grandview Palace Cd’m Ass’n, Inc., 246 So. 3d 445 (Fla. 3d DCA 2018), the decision upon which our earlier commentary was based. Many thanks to the appellate court for recognizing the need for re-hearing.

Michael J. Gelfand

Past Chair

Real Property, Probate and Trust Law Section of The Florida Bar

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