Kenneth Dante Murena is Chair of The Florida Bar Business Law Section’s Task Force on the Uniform Commercial Real Estate Receivership Act (UCRERA).
The following is an excerpt from Mr. Murena’s recent article in the Winter 2020 Edition of The Florida Bar Out-of-State Division’s State-to-State Newsletter:
The decade-long economic boom in the United States has extended to most real estate markets, including in Florida, but many expect a correction in the real estate economy within the next couple of years that is likely to result in a surge in real estate disputes and litigation. Florida’s trial courts already struggle to manage the increased workload and the complex issues underlying commercial cases, many of which stem from real estate disputes. So, any further increase in real estate-related cases could result in a crippling backlog and excessive delays in adjudication. Courts and litigants in real estate disputes will need a tool to stave off such delays and secure efficient resolutions. One such tool is receivership, which for years courts have utilized to assist in the resolution of real estate disputes pursuant to common law developed and applied by a multitude of courts over a number of years to varying degrees and effect, rather than pursuant to one consolidated body of law that could more consistently be applied by courts faced with similar real estate-related issues.