Author Archives: BankruptcyRealEstateInsights

About BankruptcyRealEstateInsights

Vicki R. Harding was a partner in the Detroit office of Pepper Hamilton LLP who moved to Arizona seeking warmer weather. Ms. Harding continues to handle commercial transactions with an emphasis on real estate and bankruptcy issues (but no longer owns a snow shovel).

Delinquent Property Tax Sales: Is a Purchaser at Risk If a Property Owner Files Bankruptcy?

Hackler v. Arianna Holdings Co., LLC (In re Hackler), 938 F.3d 473 (3d Cir. 2019) – Chapter 13 debtors sought to avoid a prepetition delinquent property tax sale. The bankruptcy court agreed with the debtors that the transfer of title … Continue reading

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Scrivener’s Error: Can a Residential Deed of Trust Be Avoided Because It States That It Secures a Maximum Principal Amount of $21.1 Trillion?

Rouse v. U.S. Bank, N.A. (In re Lolley), 607 B.R. 673 (Bankr. W.D. Mo. 2019) – A chapter 7 trustee sought to avoid a deed of trust lien on the grounds that it did not comply with statutory requirements. Specifically, the … Continue reading

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UCC Collateral Description: Can You Look Beyond the Four Corners of the Financing Statement?

First Midwest Bank v. Reinbold (In re I80 Equipment, LLC), 938 F.3d 866 (7th Cir. 2019) – In connection with a lawsuit to recover a loan secured by substantially all of a debtor’s assets, a lender sought a declaration that its … Continue reading

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Delinquent Property Taxes: A Prepetition Tax Sale Purchaser May Find Itself Embroiled in The Bankruptcy

Town of Beacon Falls v. Christiano (In re Christiano), 605 B.R. 1 (Bankr. D. Conn. 2019) – A prepetition tax sale purchaser sought relief from the automatic stay to exercise its rights with respect to the property it purchased. The debtor … Continue reading

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Real Estate Purchase Agreement: Contract for Deed or Mortgage – It Makes a Difference

In re Edwards, 606 B.R. 356 (Bankr. E.D. Ark. 2019) – A chapter 13 debtor proposed a plan that treated a contract for deed as a secured claim. The seller objected, contending that the contract was terminated prepetition so that the … Continue reading

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Documents Under Seal: The Word “Seal” on a Preprinted Form May Be More Than a Vestige of Times Gone By (a/k/a 20 Years Is a Long Time)

In re George, 606 B.R. 236 (Bankr. E.D. Pa. 2019) – A chapter 13 debtor objected to the proof of claim filed by a lender asserting an unsecured claim based on the debtor’s guaranty. The debtor contended that the guaranty was … Continue reading

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Anti-Assignment Provisions: Restrictions on Transfer of Promissory Notes May Be More Enforceable Than You Might Expect

In re Woodbridge Group of Companies, LLC, 608 B.R. 201 (D. Del. 2019) – The debtor objected to a creditor’s proof of claim on the grounds that transfer of the claim to the creditor was unenforceable against the debtor because it … Continue reading

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