Chapter 4-10 Standing to Foreclose a Line of Credit
4-10 Standing to Foreclose a Line of Credit
A line of credit which is not a fixed sum is not a negotiable instrument.107 Therefore, standing to enforce the credit agreement is not subject to the UCC rules governing negotiable instruments, discussed above. Standing to foreclose a line of credit can be established through assignment of the line of credit108 or proof of ownership.109
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Notes:
[107] Chuchian v. Situs Invs, LLC, 219 So. 3d 992 (Fla. 5th DCA 2017); Third Fed. Sav. & Loan Ass'n v. Koulouvaris, 247 So. 3d 652...
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