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Georgia Instruction to Jury Regarding Damages for Wrongful Foreclosure

Category:
Civil Procedure - Jury Instructions - Foreclosures
State:
Multi-State
Control #:
US-01365BG
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Word; 
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Description

Foreclosure is the procedure by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), forces the sale of the real property to recover the money due, unpaid interest, plus the costs of foreclosure, after the debtor fails to make payment.


In most cases, a wrongful foreclosure action alleges that the amount stated as due and owing in the notice of default is incorrect for one or more of the following reasons: an incorrect interest rate adjustment, incorrect tax escrow collected, misapplied payments, or a forbearance agreement which was not adhered to by the servicer, Wrongful foreclosure actions are also brought when the servicers accept partial payments after initiation of the wrongful foreclosure process, then continue with the foreclosure.

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FAQ

Georgia law caps most punitive awards at $250,000; however, there are three important exceptions to this limit. First, product liability claims are not limited by the statutory cap. However, it's important to note that in these cases, only 25% of the punitive damages, plus attorneys fees and costs, go to the plaintiff.

A lawsuit for wrongful foreclosure must be filed within the applicable statute of limitations. In Georgia, the statute of limitations for wrongful foreclosure is typically two years from the date of the foreclosure sale. However, there may be some exceptions or nuances to this depending on the specifics of your case.

Because punitive damages are intended to punish the wrongdoer, a wealthy wrongdoer should face a higher punitive damages award than a less wealthy party.

Punitive damages are legal recompense that a defendant found guilty of committing a wrong or offense is ordered to pay on top of compensatory damages. They are awarded by a court of law not to compensate injured plaintiffs but to punish defendants whose conduct is considered grossly negligent or intentional.

Because Georgia law views punitive damages as strictly a means of punishing, penalizing or deterring defendants, the compensation does not go straight to the plaintiff. Most of the money goes to the government.

The U.S. Supreme Court has also set out factors to be considered in determining the size of a punitive damages award, including: The severity of the defendant's misconduct. The relation between the amount of the award and the actual harm suffered.

Punitive damages may be awarded only in such tort actions in which it is proven by clear and convincing evidence that the defendant's actions showed willful misconduct, malice, fraud, wantonness, oppression, or that entire want of care which would raise the presumption of conscious indifference to consequences.

When a Georgia judge awards punitive damages, 75 percent of the award typically goes to the state treasury. Therefore, plaintiffs receive a comparatively small percentage of the total amount awarded.

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