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Florida’s First District Court of Appeal Weighs in on Unresolved Lender Liability Question and Statute of Limitations Issue

Fri May 1, 2015 Legal Alerts

For the first time a Florida appellate court has decided whether section 713.3471, Florida Statutes, provides a contractor’s sole remedy against a lender that has ceased advances on a construction loan. The First District Court of Appeal took up this issue of first impression in Jax Utilites Management, Inc. v. Hancock Bank, No.1D14-664, 2015 WL 1809322 (Fla. 1st DCA 2015) while also addressing pertinent statute of limitations issues relating to equitable lien actions.