Equitable Lien on Undisbursed Construction Proceeds
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