🏠 Foreclosure Sale Vacated After Mortgage Reinstatement Payment | Arsali v. Chase SC12-600

Florida Supreme Court oral argument in Nicholas Arsali v. Chase Home Finance LLC — a certified question case addressing the standard for vacating a foreclosure sale when a mortgagee's error prevents cancellation after the borrowers timely made the required reinstatement payment. Decided July 11, 2013. CASE SUMMARY Nicholas Arsali and another borrower had a final summary judgment of foreclosure entered against them for their shared residence. One month before the scheduled foreclosure sale, Chase Home Finance offered reinstatement of the mortgage conditioned on a lump-sum payment by May 6. The borrowers sent a cashier's check for the full amount, which Chase's counsel received on May 4. However, Chase's counsel failed to arrange for cancellation of the foreclosure sale, and the sale proceeded as scheduled. A third-party purchaser bought the property at the sale. The borrowers moved to vacate the sale. The trial court granted the motion, vacated the foreclosure judgment and sale, and ordered the purchaser's funds returned. The Fourth District Court of Appeal affirmed and certified a question of great public importance to the Florida Supreme Court. The Florida Supreme Court approved the result, affirming that the foreclosure sale and certificate of sale were properly vacated. The Court clarified that Brown v. Sprague and Arlt v. Buchanan are not in conflict. ⚖️ CASES CITED • Arsali v. Chase Home Finance, LLC, 79 So. 3d 845 (Fla. 4th DCA 2012) • Arlt v. Buchanan, 190 So. 2d 575 (Fla. 1966) 📄 OPINION https://law.justia.com/cases/florida/...