Q: WHAT ARE MY RIGTS AND LIMITATIONS TO ENFORCE A PROMISSORY NOTE IN FL
A:
If the Note if collateralized, you can proceed in court with the Note and seek to execute (Seize or Force the sale of) upon the collateral. If the Note is not collateralized, you can still proceed in court, but will then have to try to collect your judgment.
Suits based upon a Note must be brought within five (5) years of the last payment. Once a judgment is entered, you must execute upon it within 20 years.
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