Forbearance Agreement Must be in Writing and Signed

In a recent case, American First Federal Inc., v. Trugon Properties, Inc., 50 Fla.L.Weekly D1419f (Fla. 4th DCA 2025), a borrower, through a bench trial, prevailed on an argument that its lender forbeared from foreclosing on the mortgage based on an oral loan modification / forbearance agreement. The lender appealed arguing that any agreement between the borrower and lender where the lender is lending or forbearing the repayment of money must be in writing and signed by the lender and borrower under the Banking Statute of Frauds. See Fla. Stat. s. 687.0304. The lender prevailed on appeal: "Accordingly, as the...

05 June

0 Comments

Sticky

Purchase-and-Sale Contract: Your Right to Modify Them

Posted by David Adelstein

in Trial Perspectives

Real estate purchase-and-sale contracts govern the buyer’s and seller’s rights in the transaction. Although standard form contracts are utilized, this does not mean modifications cannot be made. In numerous cases, modifications should be made to clarify the intent of the parties to the transaction. In a recent case, Inlet Colony, LLC v. Martindale, 47 Fla.L.Weekly D1175a (Fla. 4th DCA 2022), the purchase-and-sale contract had a drop dead closing date. There was an addendum to the contract with specific closing terms that stated: Seller and Buyer make the following terms and conditions part of the Contract; Closing will occur [the] later of...

statute of frauds Tag

Forbearance Agreement Must be in Writing and Signed

Purchase-and-Sale Contract: Your Right to Modify Them