Category Archives: Real Estate

Real Estate

Delinquent Property Taxes: Beware the Risk of Tax Deeds

Posted on February 4, 2014 by BankruptcyRealEstateInsights

Smith v. SIPI, LLC (In re Smith), 501 B.R. 843 (Bankr. N.D. Ill. 2013) – Chapter 13 debtors (the Smiths) lost their residential property in a pre-petition delinquent property tax sale.  The tax sale purchaser (SIPI) resold the property to a … Continue reading →

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Unrecorded Mortgage Assignment: If You Snooze, You Can Lose

Posted on January 24, 2014 by BankruptcyRealEstateInsights

In re First Mortgage Fund, Inc., 498 B.R. 180 (E.D. Mich. 2013) – A debtor (First Mortgage), which was the mortgagee of record, foreclosed a mortgage and obtained title to the foreclosed property notwithstanding that it had assigned the note and … Continue reading →

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Underwater Liens: Can A Federal Tax Lien Be Stripped Off In A Chapter 13?

Posted on January 17, 2014 by BankruptcyRealEstateInsights

Ryan v. United States of America (In re Ryan) 725 F.3d 623 (7th Cir. 2013) – A chapter 13 debtor sought to void a federal tax lien under Section 506(d) of the Bankruptcy Code to the extent that it exceeded the value … Continue reading →

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Claim Priority: Construction Lien Meets Mortgage – Who Wins?

Posted on January 14, 2014 by BankruptcyRealEstateInsights

ROK Builders, LLC v. 2010-1 SFG Venture LLC (In re Moultonborough Hotel Group, LLC), 726 F.3d 1 (1st Cir. 2013) – After the owner of a newly constructed hotel filed bankruptcy, the assignee of the construction mortgage sought a declaration that … Continue reading →

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Mortgagee Relief: “Cause” Is In the Eye of the Beholder – Round 2

Posted on January 3, 2014 by BankruptcyRealEstateInsights

In re GEL, LLC, 495 B.R. 240 (Bankr. E.D. N.Y. 2012) – A mortgagee moved to dismiss two Chapter 11 bankruptcies that were filed by its mortgagors to prevent a scheduled foreclosure sale.  It also sought relief relating to the automatic … Continue reading →

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Options for an Underwater Mortgagee: The Mysteries of an 1111(b) Election

Posted on December 31, 2013 by BankruptcyRealEstateInsights

In re River Canyon Real Estate Investments, LLC, 495 B.R. 526 (Bankr. D. Colo. 2013) – A chapter 11 debtor’s plan of reorganization placed two secured creditors in the same class.  (No one objected to this classification.) One of the creditors attempted … Continue reading →

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