The Indiana Commercial Foreclosure Law blog, published by Dinsmore & Shohl LLP, focuses on legal issues related to commercial foreclosure and real estate finance in Indiana. It covers topics such as personal guaranty disputes, tenant by the entirety protections, land contract forfeiture versus foreclosure, and the impact of amendments on guaranty obligations. The blog analyzes relevant Indiana case law and statutory provisions, providing practical insights for parties involved in loan defaults, real estate transactions, and creditor-debtor disputes. It also addresses procedural and substantive aspects of foreclosure litigation and related remedies under Indiana law.
Lesson. Best practices warrant written guarantor’s consent to amendments of the obligation guaranteed.
Case cite. Al-Farah v. Southlake Ind., LLC, 241 N.E.3d 628 (Ind. Ct. App. 2024)
Legal issue. Whether a personal guaranty survived amendments to the original contract to…
Lesson. Aside from concepts associated with minimal contract payments, a land contract can be terminated through buyer abandonment, giving rise to the forfeiture remedy as opposed to foreclosure.
Case cite. Mattern v. Ward, 241 N.E.3d 616 (Ind. Ct. App. 2024)…
I headed up our Firm’s alumni donation campaign this year. I’m pleased to say that we achieved 100% participation – only 1 of 8 firms to do so. Thanks to my fellow Dinsmore lawyers for giving back IU McKinney…
After nearly 19 years, my blog hosting platform TypePad is, regrettably, shutting down on October 1st. As you can see, I am in the process of changing over to LexBlog. My new URL is: commercialforeclosureblog.com.
Things may be clunky for…
My partner, mentor and friend Tom Dinwiddie recently received the IBA’s highest honor, the Leaders in Banking Excellence Award. Tom introduced me to foreclosure and banking law over 25 years ago, and I would not be where I am…
Lesson. A defendant debtor can reduce the amount owed to a plaintiff creditor by the amount the creditor owes to the debtor, but the parties must be identical.Case cite. Hendrix v. Campbell, 235 N.E.3d 221 (Ind. Ct. App. 2024)Legal…
Lesson. There is no limitations period for the initiation of proceedings supplemental in Indiana, assuming the motion is filed within 20 years of the entry of the judgment.Case cite. Converging Capital LLC v. Steglich, 234 N.E.3d 902 (Ind. Ct. App.
Lesson. A judgment lien can attach to real estate in a revocable trust if, among other things, the judgment debtor holds an ownership interest in the trust’s assets.Case cite. Sumrall v. LeSEA Inc. 234 N.E.3d 230, (Ind. Ct. App. 2024)…
Lesson. Depending on the nature of the lien foreclosure action, former property owners may not always get the surplus sheriff’s sale proceeds – equity can play a role.Case cite. Brent St. John v. Carnoustie Circle Owners Ass’n Inc., 235 N.E.3d…
Lesson. Counterclaims for money damages arising out of alleged wrongful foreclosure actions likely will not be tried to a jury but rather the court.Case cite. Colvin v. Taylor, 233 N.E.3d 497 (Ind. Ct. App. 2024)Legal issue. Whether counterclaims filed…
