First National Bank of Live Oak v. Federal Land Bank of Columbia

The trial court did not err in denying appellant’s motion seeking to exercise a right of redemption by satisfaction of the senior mortgage after the foreclosure sale, but before certificate of title was issued by the clerk of circuit court. Appellant, a junior encumbrancer, was joined as a party defendant in appellee Federal Land Bank of Columbia’s foreclosure action. Appellant’s right of redemption of the senior mortgage held by Land Bank was extinguished upon rendition of the foreclosure judgment. Appellant misconstrues Section 45.031(1), Florida Statutes (1983), since the provision for a…