Order Granting Receiver’s Motion For Turnover Of Funds Upheld
Indiana Commercial Foreclosure Law
by John Waller
1M ago
Lesson. Upon the entry of an order appointing a receiver, all assets of the entity over which the receiver is appointed become assets of the receivership estate. Case cite. Steingart v. Musgrave, 221 N.E.3d 725 (Ind. Ct. App. 2023) Legal...      Related Stories Indiana Receiver Sales: Why ... Why Not? Tips For Indiana Receivers, Updated   ..read more
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In A Matter Of First Impression In Indiana, Court Of Appeals Upholds Award Of Punitive Damages In Fraudulent Transfer Action
Indiana Commercial Foreclosure Law
by John Waller
1M ago
Lesson. Parties to fraudulent transfer actions could face punitive damages. Case cite. Clary-Ghosh v. Ghosh, 223 N.E.3d 216 (Ind. Ct. App. 2023) Legal issue. Whether the trial court abused its discretion when it awarded punitive damages against Defendants in a...      Related Stories Bank Records Of Non-Party (Third Party) Discoverable In Post-Judgment Collection Action Presumption Of Ownership Through Tenants By The Entirety Can Be Rebutted By Contract Indiana Court Of Appeals Reverses Fraudulent Transfer Judgment And Remands For Remedy Determination   ..read more
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Notices of Sheriff’s Sales: Some Reminders
Indiana Commercial Foreclosure Law
by John Waller
2M ago
I received an email last week from the Marion County (Indianapolis) Sheriff’s Office advising that the real estate division “is making advancements in technology” that have led to a new notice of sheriff’s sale. Click here for the form in...      Related Stories Replevin Action To Repossess Model Of Picasso Sculpture Succeeds Apparent Windfall Not Enough to Set Aside Federal Foreclosure Sale or Negate Deficiency Judgment Federal Foreclosure Sale Upheld – 15% Of Fair Market Value Did Not “Shock The Conscience”   ..read more
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Forbearance Agreements: The Benefits Of A Timeout
Indiana Commercial Foreclosure Law
by John Waller
3M ago
The Indiana Bankers Association publishes the Hoosier Banker magazine, which features my article about forbearance agreements in the current issue. Click here for the online version of the piece. The full article follows. I'd like to thank the folks at...        ..read more
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Metes And Bounds Legal Descriptions, As Opposed To Street Addresses, Control The Effectiveness Of Mortgages In Indiana
Indiana Commercial Foreclosure Law
by John Waller
4M ago
Lesson. So long as the legal description in a mortgage provides notice of the boundaries and location of the subject real estate, discrepancies regarding the street address are of no moment. Case cite. United States Bank Nat'l Ass'n v. Spencer,...      Related Stories Prior Replevin Of Manufactured Home Did Not Render Mortgage Fully Satisfied As To the Underlying Land What Is “Constructive Notice” In The Context Of Indiana Real Estate Law? Indiana's Mortgage Release Obligations   ..read more
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Lender Permitted To Pursue Third Foreclosure Case Because The Two Prior Actions Were Dismissed “Without Prejudice”
Indiana Commercial Foreclosure Law
by John Waller
4M ago
Lesson. A lender’s motion for voluntary dismissal of a foreclosure lawsuit, without prejudice, generally leaves the door open to file a subsequent action. Case cite. United States Bank Nat'l Ass'n v. Spencer, 214 N.E.3d 1017 (Ind. Ct. App. 2023) Legal...      Related Stories What Is The “Protecting Tenants at Foreclosure Act” And Does It Apply To Foreclosures On Multi-Family Properties? Indiana Court Discusses Test For Recovery Of Attorney's Fees In Action Against Guarantor Before You File, Review For “Personally Identifiable Information” and Redact: Indiana Overview ..read more
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One Indiana Square (aka Regions Tower) Subject Of Foreclosure Action
Indiana Commercial Foreclosure Law
by John Waller
4M ago
Various media outlets are reporting that our firm's office building in downtown Indianapolis is being foreclosed upon. (We're just a tenant and paying our rent, so this isn't our fault!) The articles, in part, suggest looming problems with the office...      Related Stories From Dreams to Deals: Avoiding Pitfalls in Commercial Real Estate Financing Criminal Fraud Arising Out of Civil Title/Foreclosure Disputes ATTOM: U.S. Foreclosure Activity Sets Post Pandemic Highs in First Quarter of 2022   ..read more
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Lengthy, Multi-Case Foreclosure Conflict Insufficient To Establish Lender Had Unclean Hands
Indiana Commercial Foreclosure Law
by John Waller
5M ago
Lesson. In Indiana, the equitable defense of unclean hands requires proof of intentional misconduct. Case cite. United States Bank Nat'l Ass'n v. Spencer, 214 N.E.3d 1017 (Ind. Ct. App. 2023) Legal issue. Whether Lender had unclean hands that precluded foreclosure....      Related Stories Indiana's Mortgage Release Obligations Lender Entitled To Full Amount Of Insurance Proceeds From Fire Loss: Borrower Responsible For Own Attorney Fees Borrower’s Loan Reinstatement-Related Promissory Estoppel Defense Dismissed   ..read more
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Prior Replevin Of Manufactured Home Did Not Render Mortgage Fully Satisfied As To the Underlying Land
Indiana Commercial Foreclosure Law
by John Waller
5M ago
Lesson. If a security interest involves both real and personal property, then the secured party may accept certain of the collateral in partial satisfaction of the obligation it secures. Case cite. United States Bank Nat'l Ass'n v. Spencer, 214 N.E.3d...      Related Stories What Is “Constructive Notice” In The Context Of Indiana Real Estate Law? Indiana’s UCC Financing Statement Termination Obligations Indiana's Mortgage Release Obligations   ..read more
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Assignee Of Judgment Unable To Pursue Collection Absent Order Substituting Parties
Indiana Commercial Foreclosure Law
by John Waller
5M ago
Happy New Year. Forgive me for the extended break in the action here. Year-end projects, holidays, a bout of the flu, etc. prevented me from writing recently. Lesson. If you’re an assignee of a judgment, file a motion for substitution...      Related Stories Both An Appeal And A Bond Generally Are Required To Stay Proceedings Supplemental Indiana Judgment Creditor Not Entitled To Post-Judgment Order Transferring Ownership Of Defendant’s Real Estate What Is “Constructive Notice” In The Context Of Indiana Real Estate Law?   ..read more
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