Bank of New York Mellon v. Glenville

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In this dispute between the former record owners of certain real property and a subordinate lienholder over surplus funds resulting from a judicial foreclosure sale of the property, the Supreme Court held that the statutory requirement that a claim to surplus funds be filed within sixty days after the sale begins upon the clerk’s issuance of the certificate of disbursements. The crux of this dispute was whether the subordinate lien holder timely filed its claim to the surplus amount under chapter 45 of the Florida Statutes, which governs judicial sales. Specifically, the parties argued over whether the sixty-day period begins upon the public auction of the property, the clerk’s issuance of the certificate of title, or some other event. The Second District Court of Appeal ruled that the subordinate lienholder’s claim was untimely because it was not filed within sixty days of the public auction. The Supreme Court quashed the Second District’s decision, holding (1) the meaning of “60 days after the sale” as used in chapter 45 in the context of claims to surplus funds is sixty days after the clerk issues the certificate of disbursements; and (2) therefore, the subordinate lienholder’s claim to the surplus was timely filed before the expiration of that sixty-day period. View "Bank of New York Mellon v. Glenville" on Justia Law