There was plenty of media coverage earlier this Summer leading up to, and in the wake of, the U.S. Supreme Court’s decision in Pung. You don’t need me to summarize the background of this Michigan tax sale-related case or the
Lesson 1. The home of two spouses generally is exempt from the bankruptcy estate (and thus is immune from foreclosure) if only one spouse owes the underlying debt.
Lesson 2. Mortgaged real estate is not immune from foreclosure simply because
Lesson. A Chapter 7 bankruptcy discharge negates personal liability of debtors, such as borrowers or guarantors, for loans, but the discharge does not terminate mortgage liens on the real estate that secured the debt.
Case cite. Klunder v. Bank of
On May 13th, my son Hank was sworn in to the bar. Hank is a fourth-generation attorney in Indiana, and is working as a Deputy Prosecutor in Marion County (Indianapolis).
Pictured from left to right below are me, Hank and
Lesson. If judgment creditors seek to extend a judgment lien beyond ten years, then a fresh “renewal complaint” should be filed.
Case cite. Autovest, L.L.C. v. Abner, 245 N.E.3d 193 (Ind. Ct. App. 2024)
Legal issue. Whether a second cause
Lesson. In some cases, proof of the date upon which a foreclosing lender acquired possession of a promissory note (endorsed in blank) could be important.
Case cite. Howard v. US Bank Trust N.A., 247 N.E.3d 761 (Ind. Ct. App. 2024)
Question Presented. Recently, a client asked (for a friend) whether certain shares of stock in a closely held corporation may be at risk to collection by a creditor. The shareholder apparently had granted a so-called blanket security interest in the
Lesson. When a lender’s loan collateral involves income-producing property, an assignment of rents, particularly when coupled with a typical subordination, non-disturbance and attornment agreement, can be powerful collection tools permitting a lender to collect money from a lessee – funds
Lesson. Under Indiana law, when a mortgage identifies MERS “as nominee” for the original lender, barring a subsequent assignment of mortgage a plaintiff creditor must name MERS as a defendant in a foreclosure action and serve MERS with a summons
Lesson. Indiana’s tenant by the entireties collection exemption applies only to Indiana domiciliaries.
Case cite. Princeton Alt. Income Fund LP v. Wolfe, 2024 U.S. Dist. LEXIS 137226 (N.D. Ind. Aug. 2, 2024)
Legal issue. Whether certain Indiana real estate was
