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Emanuel v. Bankers Trust Co.

Florida District Court of Appeal

655 So. 2d 247 (1995)

Facts

Bankers Trust Company, N.A. (defendant) obtained a judgment of foreclosure after the mortgagor defaulted on his loan. The judgment specified that the mortgagor’s equity, or right, of redemption would terminate upon the clerk’s filing of the foreclosure certificate of sale. Eyal Emanuel (plaintiff) successfully bid on the property, and the clerk filed the certificate of sale. Some time thereafter, the mortgagor filed a motion to redeem the property. The trial court issued a restraining order prohibiting Emanuel from taking possession of the property and gave the mortgagor 10 days to redeem the property by paying the loan balance, interests, and costs. Emanuel sought to overturn the trial court’s order by appealing to the Florida District Court of Appeal.

Rule of Law

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Issue

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Holding and Reasoning (Nesbitt, J.)

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