Case Name: William A. NESBITT, Appellant, v. CITICORP SAVINGS OF FLORIDA, a Federal Savings and Loan Association, Appellee
Court: Florida District Court of Appeal
Jurisdiction: Florida
Decision Date: 1987-09-01
Citations: 514 So. 2d 371
Docket Number: No. 86-1381
Parties: William A. NESBITT, Appellant, v. CITICORP SAVINGS OF FLORIDA, a Federal Savings and Loan Association, Appellee.
Judges: Before HENDRY, NESBITT and FERGUSON, JJ.
Reporter: Southern Reporter, Second Series
Volume: 514
Pages: 371–372

Head Matter:
William A. NESBITT, Appellant, v. CITICORP SAVINGS OF FLORIDA, a Federal Savings and Loan Association, Appellee.
No. 86-1381.
District Court of Appeal of Florida, Third District.
Sept. 1, 1987.
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.

Opinion:
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. 458, 162 So. 899 (1935); Zimmerman v. Hill, 100 So.2d 432 (Fla. 3d DCA 1958). Nothing in the usury statutes, chapter 687, Florida Statutes (1985), supports the argument of the appellants that the controlling cases have been legislatively overruled.
We affirm the final judgment of foreclosure.