Monthly Archives: March 2014

Potential Sale of Jointly Owned Property: Practicable Partition Is Somewhere Between Possible and Practical

Posted on March 28, 2014 by BankruptcyRealEstateInsights

Higgason v. Brown (In re Brown), 506 B.R. 446 (Bankr. E.D. Ky. 2014) – A chapter 7 debtor owned real estate jointly with three other people as tenants in common. The chapter 7 trustee sought court approval to sell the entire property, … Continue reading →

Posted in Real Estate | Tagged | Leave a comment

Impact of Lis Pendens: More Questions Than Answers

Posted on March 25, 2014 by BankruptcyRealEstateInsights

Ute Mesa Lot 1, LLC v. First-Citizens Bank & Trust Co. (In re Ute Mesa Lot 1, LLC), 736 F.3d 947 (10th Cir. 2013) – A chapter 11 debtor filed an adversary proceeding against its construction lender seeking to avoid as … Continue reading →

Posted in Financing, Real Estate | Tagged , | Leave a comment

Lease Assumption (and Rejection): It Ain’t So Until the Court Says So

Posted on March 21, 2014 by BankruptcyRealEstateInsights

In re Upper Crust, LLC, 502 B.R. 1 (Bankr. D. Mass. 2013) – In a bankruptcy case that was converted from chapter 11 to chapter 7, a landlord sought immediate payment or administrative priority for postpetition rents and rejection damages.  The trustee objected … Continue reading →

Posted in Real Estate | Tagged | Leave a comment

Mortgagee Stay Relief: Wending a Path Through Adequate Protection and Dragnet Clauses

Posted on March 18, 2014 by BankruptcyRealEstateInsights

Magnolia Portfolio, LLC v. Dye (In re Dye), 502 B.R. 47 (Bankr. M.D. Pa. 2013) – A mortgagee sought relief from the automatic stay in order to pursue its state law remedies against properties securing seven defaulted loans.  The chapter 11 debtors … Continue reading →

Posted in Financing, Real Estate | Tagged , | Leave a comment

Sale Contract for Mineral Interests: Speak Early and Often, Or Forever Hold Your Peace

Posted on March 14, 2014 by BankruptcyRealEstateInsights

Davis v. Dunmore Properties, Inc. (In re Davis), 503 B.R. 609 (Bankr. M.D. Pa. 2013) – After confirmation of their chapter 13 plan, two chapter 13 debtors filed motions for summary judgment seeking to reject a contract for sale of their mineral rights … Continue reading →

Posted in Real Estate | Tagged , , , | Leave a comment

Default Interest: Is a Mortgagee Entitled to Collect the Contract Rate, or Must It Be Reasonable?

Posted on March 11, 2014 by BankruptcyRealEstateInsights

In re Haldes, 503 B.R. 441 (Bankr. N.D. Ill. 2013) – An oversecured mortgagee’s proof of claim included default interest for the period from the date of the bankruptcy filing through confirmation of a plan of reorganization.  The debtor argued that … Continue reading →

Posted in Financing, Real Estate | Tagged , , | Leave a comment