Hancock Bank v. D.S.C. of Newark Enterprises

In this mortgage foreclosure action, Hancock Bank appeals the partial final declaratory judgment entered by the trial court, holding that D.S.C. of Newark Enterprises possesses a vendor’s lien which is superior in priority to Hancock’s purchase-money mortgage.1 Determining that D.S.C.’s contractual right to recover liquidated damages does not provide a basis for the imposition of a vendor’s lien, we reverse.

Master Development of Central Florida, Inc. entered into a sale/purchase agreement with D.S.C. relating to real property located in Volusia County. Master financed the purchase through a…