Legal Opinion
First Federal Savings & Loan Association v. Peterson
District Court, N.D. Florida
Decided June 22, 1981No. Nos. TCA 79-0940, PCA 80-0405 and PCA 80-0406PublishedCited by 7 opinions
1Opinion of the Court
PARTIAL SUMMARY JUDGMENT
HIGBY, District Judge.
The Plaintiffs in these consolidated cases seek a judgment declaring the due-on-sale clauses in their mortgages legal and enforceable and that federal regulation of the subject preempts all impeding state law.1 Needless to say the Defendants disa*734gree. Due-on-sale is the popular term for mortgage acceleration clauses which give a lender the power to accelerate a mortgage to maturity when ownership interest of the mortgage’s collateral is transferred. Two of the clauses in question are identical.2 The other says the same thing differently.3…
2Cases cited35 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Hines v. DavidowitzSupreme Court of the United States · 1941
- Rice v. Santa Fe Elevator Corp.Supreme Court of the United States · 1947
- Gully v. First Nat. Bank in MeridianSupreme Court of the United States · 1936
- Florida Lime & Avocado Growers, Inc. v. PaulSupreme Court of the United States · 1963
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3Cited by7 opinions
- Fidelity Federal Savings & Loan Ass'n v. De La CuestaSupreme Court of the United States · 1982
- FIRST FED. SAV. & LOAN ASS'N, ETC. v. KellySouth Dakota Supreme Court · 1981
- First Federal Savings & Loan Ass'n of Rapid City v. KellySouth Dakota Supreme Court · 1981
- Coral Gables Federal Savings & Loan Ass'n v. HarbertDistrict Court, S.D. Florida · 1981
- Departamento De Asuntos Del Consumidor v. Oriental Federal SavingsDistrict Court, D. Puerto Rico · 1986
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