Lien Transfer Bond and Statute of Limitations

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The Cool Guys, LLC v. Jomar Properties and Accredited Surety, 37 Fla. L. Weekly D574a, Case No. 4D10-4206, filed March 7, 2012. Affirmed the trial court’s summary judgment in favor of owner and surety on a transfer bond that was posted during the pendency of the lien foreclosure, and held that s. 713.24(4), as amended in 2005, precluded the subcontractor from bringing a claim on the transfer bond more than two (2) years after the lien was transferred to bond by requiring that such a claim must be filed within one (1) year after the transfer bond was posted. Note: This opinion is contrary to American Fire v. Davis Water, 358 So. 2d 225 (Fla. 4th DCA 1978), aff’d, 377 So. 2d 164 (Fla. 1979), but that case was decided prior to the statutory amendment. (from RPPTL subcommittee).

Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A.
1207 N Franklin St, Ste 222
Tampa, FL 33602
(813) 579-3278
www.trentcotney.com

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