September 1, 2004
Vincent P. Cravero v. LLP Mortgage Ltd.
Case Number(s):
SC03-1671

Transcript:

Summary:

In 1995, the Petitioners defaulted on their mortgage, and the U.S. Small Business Administration accelerated their debt. In 2001, the SBA assigned this mortgage to LLP Mortgage Ltd. The five-year statute of limitations had already run on LPP's claim. The question presented is whether LLP, as the SBA's assignee, inherited the government's immunity from Florida's statute of limitations.