The latest ABI Podcast features members of ABI's Commission on Consumer Bankruptcy providing insights on the Commission's recommendations on student loans and bankruptcy, the first topic addressed in its Final Report. Prof. Robert M.
Curnin granted a Deed of Trust originally to Bank of America, but now held by MTGLQ, with a property description which included the property’s lot number and the phase of the development (“STAGE I”)but without any reference to the book and page numbers where a title searcher could find the map recorded in the Brunswick County. MTGLQ brought an action to quiet title and to reform the Deed of Trust to include the full reference.
Sampson County sought to collect $2.6 million from Aaron’s
Rent-to-Own for personal property taxes owed for the period from 2010 through
2015 for the property which Aaron’s leased to consumers. Aaron’s argued that the property was “in the
process of being sold” and qualified as inventories under N.C.G.S. §
105-275(34). The Tax Commission held
that by Aaron’s renting the property to third parties, it was not entitled to
the exclusion from personal property taxes.
