[RPPTL LandTen] Surety bond release for residential security deposit
Has anyone dealt with the release of a bond for residential security
deposit under Section 83.49? This particular surety bond needs to be
released but the release that was received includes a requirement that
the State of Florida sign off on it, and no one seems to know which
office or department of the State deals with these bonds. Any ideas???
http://www.shutts.com/shutts100.jpg Neil B. Shoter
Partner / LEED Accredited Professional
Shutts & Bowen LLP
1100 CityPlace Tower, 525 Okeechobee Boulevard | West Palm Beach, FL
33401
Direct: (561) 650-8535 | Fax: (561) 822-5525
E-Mail mailto:NShoter@shutts.com | Biography
<http://www.shutts.com/index.cfm/fa/attorney.bio/atty/466a1d2b-4049-425b
-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/> | V-Card
<http://www.shutts.com/index.cfm/fa/attorney.vcf/atty/466a1d2b-4049-425b
-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/> | Website
http://www.shutts.com/
IRS CIRCULAR 230 NOTICE: Pursuant to recently enacted
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15 years ago I did lectures for the Davison of Restaurants and
Hospitality as part of their regulations of Chapter 83.49 it is probably
a good place to start.
This email message was sent by:
Lloyd Granet
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
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Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
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999-9300 (collect) and destroy this communication. Thank you.
From: landten-bounces@lists.flabarrpptl.org
[mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Neil B.
Shoter
Sent: Wednesday, December 23, 2009 3:53 PM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] Surety bond release for residential
security deposit
Has anyone dealt with the release of a bond for residential
security deposit under Section 83.49? This particular surety bond
needs to be released but the release that was received includes a
requirement that the State of Florida sign off on it, and no one seems
to know which office or department of the State deals with these bonds.
Any ideas???
<http://www.shutts.com/shutts100.jpg> Neil B. Shoter
Partner / LEED Accredited Professional
Shutts & Bowen LLP
1100 CityPlace Tower, 525 Okeechobee Boulevard | West Palm
Beach, FL 33401
Direct: (561) 650-8535 | Fax: (561) 822-5525
E-Mail mailto:NShoter@shutts.com | Biography
<http://www.shutts.com/index.cfm/fa/attorney.bio/atty/466a1d2b-4049-425b
-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/> | V-Card
<http://www.shutts.com/index.cfm/fa/attorney.vcf/atty/466a1d2b-4049-425b
-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/> | Website
http://www.shutts.com/
IRS CIRCULAR 230 NOTICE: Pursuant to recently enacted
U.S. Treasury Department Regulations, we are now required
to advise you that, unless otherwise expressly indicated,
any federal tax advice expressed above was neither
written nor intended by the sender or this firm to be
used and cannot be used by any taxpayer for the purpose
of avoiding penalties that may be imposed under U.S. tax
law. If any person uses or refers to any such tax advice
in promoting, marketing or recommending a partnership or
other entity, investment plan or arrangement to any
taxpayer, then the advice should be considered to have
been written to support the promotion or marketing by a
person other than the sender or this firm of that
transaction or matter, and such taxpayer should seek
advice based on the taxpayer's particular circumstances
from an independent tax advisor.
The information in this email transmission is privileged
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email reply. Thank you.
I have been presented with the following fact pattern on behalf of a
tenant. Lease provides
A. if Tenant does not timely pay rent, delinquent amount accrues
interest at the highest rate allowed by law.
B. for a fee for burdens of dealing with late payment. The fee
is calculated as 5% per month of the late amount.
While I am used to seeing a processing fee which is a fixed number on
top of specified interest rate, specifying the fee as percentage of rent
owed is new to me.
Two arguments jump out
1. if the fee is interest, it is usurious, as the fee by itself
is 60% per annum
2. if the fee is not interest it is an unenforceable penalty.
The fee can not be compensation for the time value of money as it is
covered by the interest charge. Liquidated damages which are unrelated
to the harm and disproportionate to the harm would be the classic
penalty.
Does anyone have any experience with this or know the law? Thank you.
This email message was sent by:
Lloyd Granet
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com
NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance
with IRS Circular 230, we must inform you that any U.S. tax advice
contained in this transmission and any attachments hereto is not
intended or written to be used and may not be used by any person for the
purpose of (i) avoiding any penalty that may be imposed by the Internal
Revenue Code or (ii) promoting, marketing or recommending to another
party any tax-related matter(s) addressed herein.
NOTICE: This communication is: (a) sent by an attorney or his/her agent,
(b) confidential, and (c) intended only for the use of the individual or
entity to which it is addressed. If the addressee is a client, this
communication is also subject to applicable privileges. If you are not
the addressee, or the employee or agent responsible for the delivery to
the addressee, any dissemination, distribution or copying of this
communication is prohibited. If you received this communication in
error: (a) any dissemination, distribution or copying is prohibited, and
(b) Lloyd Granet, P.A. requests that you immediately notify us at (561)
999-9300 (collect) and destroy this communication. Thank you.
From: landten-bounces@lists.flabarrpptl.org
[mailto:landten-bounces@lists.flabarrpptl.org] On Behalf Of Neil B.
Shoter
Sent: Wednesday, December 23, 2009 3:53 PM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] Surety bond release for residential
security deposit
Has anyone dealt with the release of a bond for residential
security deposit under Section 83.49? This particular surety bond
needs to be released but the release that was received includes a
requirement that the State of Florida sign off on it, and no one seems
to know which office or department of the State deals with these bonds.
Any ideas???
<http://www.shutts.com/shutts100.jpg> Neil B. Shoter
Partner / LEED Accredited Professional
Shutts & Bowen LLP
1100 CityPlace Tower, 525 Okeechobee Boulevard | West Palm
Beach, FL 33401
Direct: (561) 650-8535 | Fax: (561) 822-5525
E-Mail mailto:NShoter@shutts.com | Biography
<http://www.shutts.com/index.cfm/fa/attorney.bio/atty/466a1d2b-4049-425b
-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/> | V-Card
<http://www.shutts.com/index.cfm/fa/attorney.vcf/atty/466a1d2b-4049-425b
-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/> | Website
http://www.shutts.com/
IRS CIRCULAR 230 NOTICE: Pursuant to recently enacted
U.S. Treasury Department Regulations, we are now required
to advise you that, unless otherwise expressly indicated,
any federal tax advice expressed above was neither
written nor intended by the sender or this firm to be
used and cannot be used by any taxpayer for the purpose
of avoiding penalties that may be imposed under U.S. tax
law. If any person uses or refers to any such tax advice
in promoting, marketing or recommending a partnership or
other entity, investment plan or arrangement to any
taxpayer, then the advice should be considered to have
been written to support the promotion or marketing by a
person other than the sender or this firm of that
transaction or matter, and such taxpayer should seek
advice based on the taxpayer's particular circumstances
from an independent tax advisor.
The information in this email transmission is privileged
and confidential. If you are not the intended recipient,
nor the employee or agent responsible for delivering it to
the intended recipient, you are hereby notified that any
dissemination or copying of this transmission (including
any attachments) is strictly prohibited. If you have
received this email in error, please notify the sender by
email reply. Thank you.
I have successfully used usury to get a landlord to settle litigation
and have convinced landlord clients to settle. Penalties are
onerous. I constantly struggle with clients on this. The late fee
should never be a % based on time.
I will look on my computer but it may not be recent enough.
Sent from my iPhone; sorry for any errors.
On Jan 6, 2010, at 3:49 PM, "Lloyd Granet" lgranet@granetlaw.com
wrote:
I have been presented with the following fact pattern on behalf of a
tenant. Lease provides
A. if Tenant does not timely pay rent, delinquent amount
accrues interest at the highest rate allowed by law.
B. for a fee for burdens of dealing with late payment. The
fee is calculated as 5% per month of the late amount.
While I am used to seeing a processing fee which is a fixed number
on top of specified interest rate, specifying the fee as percentage
of rent owed is new to me.
Two arguments jump out
1. if the fee is interest, it is usurious, as the fee by
itself is 60% per annum
2. if the fee is not interest it is an unenforceable
penalty. The fee can not be compensation for the time value of
money as it is covered by the interest charge. Liquidated damages
which are unrelated to the harm and disproportionate to the harm
would be the classic penalty.
Does anyone have any experience with this or know the law? Thank you.
This email message was sent by:
Lloyd Granet
Law Offices of Lloyd Granet, P.A.
2295 NW Corporate Boulevard, Suite 235
Boca Raton, FL 33431
Direct Dial: (561) 999-0090
Main Number: (561) 999-9300 x110
Fax: (561) 999-9400
Email: lgranet@granetlaw.com
NOTICE: IRS Circular 230 Disclosure: In order to ensure compliance
with IRS Circular 230, we must inform you that any U.S. tax advice
contained in this transmission and any attachments hereto is not
intended or written to be used and may not be used by any person for
the purpose of (i) avoiding any penalty that may be imposed by the
Internal Revenue Code or (ii) promoting, marketing or recommending
to another party any tax-related matter(s) addressed herein.
NOTICE: This communication is: (a) sent by an attorney or his/her
agent, (b) confidential, and (c) intended only for the use of the
individual or entity to which it is addressed. If the addressee is a
client, this communication is also subject to applicable privileges.
If you are not the addressee, or the employee or agent responsible
for the delivery to the addressee, any dissemination, distribution
or copying of this communication is prohibited. If you received this
communication in error: (a) any dissemination, distribution or
copying is prohibited, and (b) Lloyd Granet, P.A. requests that you
immediately notify us at (561) 999-9300 (collect) and destroy this
communication. Thank you.
From: landten-bounces@lists.flabarrpptl.org [mailto:landten-
bounces@lists.flabarrpptl.org] On Behalf Of Neil B. Shoter
Sent: Wednesday, December 23, 2009 3:53 PM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] Surety bond release for residential
security deposit
Has anyone dealt with the release of a bond for residential
security deposit under Section 83.49? This particular surety bond
needs to be released but the release that was received includes a
requirement that the State of Florida sign off on it, and no one
seems to know which office or department of the State deals with
these bonds. Any ideas???
<http://www.shutts.com/shutts100.jpg> Neil B. Shoter
Partner / LEED Accredited Professional
Shutts & Bowen LLP
1100 CityPlace Tower, 525 Okeechobee Boulevard | West Palm
Beach, FL 33401
Direct: (561) 650-8535 | Fax: (561) 822-5525
E-Mail mailto:NShoter@shutts.com | Biography <http://www.shutts.com/index.cfm/fa/attorney.bio/atty/466a1d2b-4049-425b-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/
| V-Card <http://www.shutts.com/index.cfm/fa/attorney.vcf/atty/466a1d2b-4049-425b-af4b-a56f3cb8a441/Neil_B_Shoter.cfm/
| Website http://www.shutts.com/
IRS CIRCULAR 230 NOTICE: Pursuant to recently enacted
U.S. Treasury Department Regulations, we are now required
to advise you that, unless otherwise expressly indicated,
any federal tax advice expressed above was neither
written nor intended by the sender or this firm to be
used and cannot be used by any taxpayer for the purpose
of avoiding penalties that may be imposed under U.S. tax
law. If any person uses or refers to any such tax advice
in promoting, marketing or recommending a partnership or
other entity, investment plan or arrangement to any
taxpayer, then the advice should be considered to have
been written to support the promotion or marketing by a
person other than the sender or this firm of that
transaction or matter, and such taxpayer should seek
advice based on the taxpayer's particular circumstances
from an independent tax advisor.
The information in this email transmission is privileged
and confidential. If you are not the intended recipient,
nor the employee or agent responsible for delivering it to
the intended recipient, you are hereby notified that any
dissemination or copying of this transmission (including
any attachments) is strictly prohibited. If you have
received this email in error, please notify the sender by
email reply. Thank you.
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