Summary:
William Miller, Russell Grogan and Stephanie Grogan purchased a 21.394 acre tract (Tract I) in 1997 and subsequently a 0.15 acre tract (Tract II) to provide access to a road. In 2003, the owners granted a Deed of Trust to GMAC. The Deed of Trust included a tax parcel number that encompassed both Tract I and Tract II, but the legal description only referenced Tract II. In 2005, the owners subdivided Tract I into Tract IA, consisting of 10.932 acres owned by all three, and Tract IB, consisting of 10.389 acres which was henceforth to be owned solely by the Grogan
This paper examines the determinants of missed payments and foreclosure initiation among a national sample of homeowners who filed for personal bankruptcy in 2007, using a rich dataset from the 2007 Consumer Bankruptcy Project.
Abstract:
This essay critically examines MERS' structure which incorporates principles of dubious legality such as a theory of common agency as well as a duality of roles held by MERS. The article examines many recent decisions in state, federal and bankruptcy courts in order to identify current trends regarding MERS-related jurisprudence.
Abstract:
Section 302(a) of the Bankruptcy Code allows an individual debtor and his or her "spouse" to commence a joint bankruptcy case by filing a single bankruptcy petition. The term spouse is not defined in the Bankruptcy Code; however, since 1996, section 3 of the Defense of Marriage Act ("DOMA") has defined a spouse for purposes of federal law as "a person of the opposite sex who is a husband or a wife." Although no state permitted same-sex couples to marry when DOMA was adopted in 1996, six states currently permit same-sex couples to marry.
Summary:
National Heritage Foundation, Inc. ("NHF") filed a Chapter 11 reorganization including provisions in its plan that prevented claim not only against NHF, but also its officers, directors and employees (among others), for acts or omissions arising prior to the reorganization. The bankruptcy court affirmed these release provisions, finding that these release provisions were "essential" to the reorganization.
On appeal, Berhman contended that the plan was not proposed in good faith and was "a sham perpetrated by NHF’s officers and directors to secure immunit
Ms. Bass signed a promissory note and Deed of Trust with Mortgage Lenders Network USA, Inc. ("MLN") in 2004. After several purported assignment, Ms. Bass default in 2008 on her payments and U.S Bank, as Trustee for Wells Fargo, commenced foreclosure. After the Clerk of Court allowed the foreclosure to proceed, Ms. Bass appealed to Superior Court, asserting the U.S. Bank was not the holder of the note.
Last night, the Senate passed by unanimous consent a bill (HR 2192) that would renew an exemption in 11 USC § 707(b)(2)(D) for reservists and National Guard members from Chapter 7 bankruptcy means-testing requirements. The bill would amend a 2008 law to make reservists and Guard members that have served on active duty or homeland defenses for at least 90 days since Sept. 11, 2001 eligible for the exemption through 2015.
The bill now goes to the President where it is expected to be signed into law.
Summary:
The Debtors filed a Chapter 13 bankruptcy in 2008. Following a Motion to convert or dismiss the case filed by the Chapter 13 Trustee, the Debtors voluntarily converted to Chapter 7. The U.S. Trustee sought dismissal of the case pursuant to 11 U.S.C.
