Florida SB 1778: Redemption Rights and Deeds in Lieu of Foreclosure

Bill Text

Florida Senate - 2025 SB 1778 
 
 
  
By Senator Garcia 
 
 
 
 
 
36-01065-25 20251778__ 
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CODING: Words stricken are deletions; words underlined are additions. 
A bill to be entitled 1 
An act relating to redemption rights and deeds in lieu 2 
of foreclosure; providing a short title; providing a 3 
legislative purpose; amending s. 45.0315, F.S.; 4 
providing that a defendant, a property owner, or a 5 
holder of a subordinate interest in real property may 6 
cure a defendant’s indebtedness to prevent the sale of 7 
such real property; authorizing the court to enter 8 
orders confirming that the release of the real 9 
property from a satisfied or transferred lien is free 10 
and clear of the satisfied or transferred lien; 11 
providing that the right of redemption by an owner of 12 
real property subject to redemption is not waivable; 13 
providing exceptions; providing that redemption rights 14 
in personal or real property may be waived after 15 
default judgment under certain circumstances; 16 
providing that simple consideration or forbearance 17 
from exercising rights or remedies by the plaintiff is 18 
inadequate consideration; creating s. 45.0316, F.S.; 19 
authorizing the transfer of a lien claimed to encumber 20 
real or personal property by certain persons; 21 
providing the method in which to transfer such a lien 22 
claim; requiring that any excess of the security filed 23 
over the aggregate of such lien claim be repaid to the 24 
party filing the transfer of a lien claim; providing 25 
that such payments are subject to certain provisions 26 
of law regarding deposits of money paid into court; 27 
authorizing a party having an interest in such 28 
security or such property from which the lien was 29 

Florida Senate - 2025 SB 1778 
 
 
  
 
 
 
 
 
 
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transferred to file a complaint or a motion in the 30 
circuit court of the county where such security is 31 
deposited seeking specified relief from the court; 32 
requiring the court to increase the cash deposit 33 
amount or lien transfer bond if it finds the funds are 34 
insufficient; providing construction; authorizing the 35 
person that deposited the amount or filed the security 36 
to seek a court order to release the security under 37 
certain circumstances; amending s. 679.612, F.S.; 38 
providing a specified timeframe for reasonable 39 
disposition of dual collateral of mortgaged property 40 
and pledged shares of the entity that owns the 41 
mortgaged property; amending s. 697.02, F.S.; 42 
prohibiting a mortgagee or its designee from acquiring 43 
interest, right to legal title, or right of possession 44 
to a mortgagee’s property; providing exceptions; 45 
amending s. 702.01, F.S.; requiring that properties in 46 
a foreclosed mortgage be sold at a judicial sale; 47 
providing that a right or remedy of strict foreclosure 48 
by contract, forbearance, or other instrument is 49 
unenforceable in this state; providing that a 50 
mortgagee may only acquire title and ownership of the 51 
mortgagor’s property by purchasing it at the judicial 52 
sale or in full or partial satisfaction of specified 53 
obligations; creating s. 702.011, F.S.; providing the 54 
circumstances in which a mortgagee or its designee may 55 
acquire title and ownership to property that is 56 
mortgaged before or after default in full or partial 57 
satisfaction; providing that the transfer or 58 

Florida Senate - 2025 SB 1778 
 
 
  
 
 
 
 
 
 
36-01065-25 20251778__ 
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assignment instrument is unenforceable if such 59 
circumstances do not exist; providing that transfer or 60 
assignment instruments of settlements for certain 61 
pending foreclosure proceedings may be held in escrow 62 
for a certain timeframe for the mortgagor to cure the 63 
amounts owed; providing that the escrow instrument be 64 
marked null and void and returned to the mortgagor and 65 
the foreclosure proceedings move forward or be 66 
dismissed if the mortgagor satisfies the cure amounts; 67 
requiring that notice of default be filed if the cure 68 
amounts are not satisfied; providing the requirements 69 
for notice; requiring that a hearing be held within a 70 
specified timeframe for the court to make specific 71 
determinations; providing that the transfer or 72 
assignment instrument may include contractual terms 73 
that provide specified information; authorizing a 74 
court to enter orders if the instrument of transfer or 75 
assignment complies with specified provisions; 76 
providing that the act is remedial; providing an 77 
effective date. 78 
  79 
Be It Enacted by the Legislature of the State of Florida: 80 
 81 
Section 1. This act may be cited as the “Redemption 82 
Procedures Improvement Act.” 83 
Section 2. The purpose of this act is to: 84 
(1) Provide procedures