Equitable Lien on Undisbursed Construction Proceeds

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In CTX Mortgage Co., LLC v. Advantage Builders of America, Inc., 47 So.3d 844 (Fla. 2d DCA), the Court held that a lender was not enriched by undisbursed proceeds because it suffered damages in the form of a diminished security interest.  Accordingly, the contractor was unable to prove that the lender's retention of the funds were inequitable.

Trenton H. Cotney
Florida Bar Certified in Construction Law
Glenn Rasmussen Fogarty & Hooker, P.A.
100 S. Ashley Dr., Suite 1300
Tampa, FL 33602
(813) 229-3333
http://www.glennrasmussen.com

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