Monthly Archives: September 2012

Mortgage Foreclosure: Beware the Automatic Stay

Posted on September 27, 2012 by BankruptcyRealEstateInsights

Kline v. Deutsche Bank Nat’l Trust Co. (In re Kline), 172 B.R. 98 (B.A.P. 10th Cir. 2012) – Under Section 362 of the Bankruptcy Code, filing a bankruptcy case automatically stays a wide variety of actions, including commencing or continuing a … Continue reading →

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Delinquent Property Tax Collection: Foreclosure May Be Vulnerable

Posted on September 25, 2012 by BankruptcyRealEstateInsights

Williams v. City of Milwaukee City Clerk (In re Williams), 473 B.R. 307 (Bankr. E.D. Wis. 2012) – Wisconsin has a strict tax foreclosure procedure in which the tax authority effectively obtains the property without any public or competitive bidding … Continue reading →

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“Strong Arm” Powers Round 3: What Happens If A Mortgage Is Recorded Before a Deed?

Posted on September 20, 2012 by BankruptcyRealEstateInsights

Olsen v. Heaver (In re Heaver), 473 B.R. 734 (Bankr. N.D. Ill. 2012) – The short story is that when a deed and mortgage are executed at the same time, but the mortgage is recorded before the deed, the recorded mortgage … Continue reading →

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Automatic Stay Is Not Absolute: You Can Still Go To Jail

Posted on September 18, 2012 by BankruptcyRealEstateInsights

In re D’Mello, 473 B.R. 207 (Bankr. E.D. Mich. 2011) – Although the stay that automatically arises under Section 362 of the Bankruptcy Code when a bankruptcy petition is filed is very broad, there are exceptions, including actions to enforce … Continue reading →

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Property Interests / Subordination: Plan Ahead, Or You May Be Stuck Behind

Posted on September 13, 2012 by BankruptcyRealEstateInsights

Scotiabank De Puerto Rico v. Brito (In re Plaza Resort at Palmas), 469 B.R. 398 (B.A.P. 1st Cir. 2012) – In Plaza Resort at Palmas the timeshare owners asserted claims as secured creditors with liens on the resort that were senior … Continue reading →

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Challenging a Bankruptcy Sale: You Snooze, You Lose

Posted on September 11, 2012 by BankruptcyRealEstateInsights

Reynolds v. Rushton, 473 B.R. 436 (D. Utah 2012) – Reynolds involves a challenge to a Chapter 7 trustee’s Section 363 sale of an underground coal mine together with an adjoining scale house located on leased land.  The scale house contained … Continue reading →

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