Chapter 4-10 Standing to Foreclose a Line of Credit

• Jurisdiction: Florida

4-10 Standing to Foreclose a Line of Credit

A line of credit which is not a fixed sum is not a negotiable instrument.⁸⁹ Standing to foreclose a line of credit can be established through assignment of the line of credit⁹⁰ or proof of ownership.⁹¹

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Notes:

^[89] Chuchian v. Situs Invs., LLC, 219 So. 3d 992 (Fla. 5th DCA 2017); Third Fed. Sav. & Loan Ass'n v. Koulouvaris, 2018 Fla. App. LEXIS 6941 (Fla. 2d DCA 2018).

^[90] Chuchian v. Situs Invs., LLC, 219 So. 3d 992 (Fla. 5th DCA 2017) (citing Mason v. Flowers, 91 Fla. 224, 107 So. 334, 335 (Fla. 1926); Reddish v. Ritchie, 17 Fla. 867, 870 (Fla. 1880)).

^[91] Compare: HSBC Bank USA, N.A. v. Buset, 241 So. 3d 882, 889 (Fla. 3d DCA 2018) (A plaintiff proving standing to enforce a negotiable instrument as a holder does not need to prove ownership.).