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NESBITT v. CITICORP SAV. OF FLORIDA

No. 86-1381.

514 So.2d 371 (1987)

William A. NESBITT, Appellant, v. CITICORP SAVINGS OF FLORIDA, a Federal Savings and Loan Association, Appellee.

District Court of Appeal of Florida, Third District.

September 1, 1987.

Attorney(s) appearing for the Case

Kenny Nachwalter & Seymour and Thomas D. Hall, Miami, for appellant.

Horton, Perse & Ginsberg and Edward A. Perse, Miami, and Fried & Lasky, for appellee.

Before HENDRY, NESBITT and FERGUSON, JJ.

PER CURIAM.

Although usury in the underlying obligation is a valid defense to a mortgage foreclosure, the defense is not available to a subsequent owner of the property who is not a party to the allegedly usurious contract and who took the encumbered property subject to the mortgage. Spinney v. Winter Park Bldg. & Loan Ass'n., 120 Fla. 453, 162 So. 899 (1935); Zimmerman v. Hill, 100 So...

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