Indiana Commercial Foreclosure Law

Recent Blog Posts

• Surety, Who Pledged A Mortgage To Secure An Ag Loan, Failed To Establish Impairment Of Collateral Defense Lesson. A surety (a form of guarantor) has a high burden to prove some "unjustified or unreasonable act” by a lender in order to establish the so-called “impairment of collateral” defense. Case cite. Devlin v. Horizon Bank, 235 N.E.3d 850...      Related StoriesLender’s Email Committing To Future Loan Modification Does Not Prevent ForeclosureEstate Could Not Recover Alleged Debts Of Decedent’s Son Under “Open Account” TheoryIndividual’s Credit Card Authorization To Cover Company’s Unpaid Invoices Opened Door To Personal Liability ... More
• Sheriff's Sale Surplus Goes To Owner/Borrower My news feed this week produced this article from Fox59: Surplus Funds After Foreclosure: Key Facts and Recovery Options for Homeowners. The article is not state-specific, so I thought I'd build on the piece by commenting on Indiana law. In...      Related StoriesMarion County (Indianapolis) Sheriff's Office UpdatesNotices of Sheriff’s Sales: Some RemindersReplevin Action To Repossess Model Of Picasso Sculpture Succeeds ... More
• Affidavit From Subservicer Employee Passes Hearsay Test For Original Lender’s Records Lesson. Loan records created by the originating lender can be admissible in an assignee lender’s lawsuit. Case cite. King v. Nat'l Collegiate Student Loan Tr. 2006-4 232 N.E.3d 646 (Ind. Ct. App. 2024) Legal issue. Whether Lender’s designated loan records,...      Related StoriesMortgage Lender Entitled To Attorneys’ Fees Despite Not Foreclosing Loan Against BorrowerWhat Is A “Body Attachment” And When Does It Expire?Reminder: As A Defendant Lien Holder, Answer The Complaint To Protect Your Interests ... More
• In Indiana, Is “Piercing The Corporate Veil” An Independent Cause Of Action? [Personal and professional commitments have prevented me from posting this past month. Rest assured that I and my beloved blog are alive and well. I wish you and your families a Happy Thanksgiving, and I appreciate you visiting this site,...      Related StoriesIndiana Claims To Pierce The Corporate Veil Should Be Post-JudgmentCollecting From Related Companies - The Two Prongs Of Indiana’s Alter EgoIndiana Federal Court Dismisses Alter Ego Claim Against Affiliated Company ... More
• What Does “Accord and Satisfaction” Mean In The Context Of Cashing A Borrower’s Check? Lesson. Even when a check is cashed and that check contains a notation that cashing it shall be considered “settlement in full” of a disputed debt, accord and satisfaction is not automatic. Case cite. Mayes v. Goldman Sachs Bank USA,...      Related StoriesPrior Replevin Of Manufactured Home Did Not Render Mortgage Fully Satisfied As To the Underlying LandIndiana’s UCC Financing Statement Termination ObligationsDamages Under Indiana’s UCC For Breaching The Peace: Treatment Of Deficiency ... More
• Expired Judgment Lien Must Be Renewed Before Foreclosure Can Occur Lesson. Judgment creditor must obtain an order to renew an expired judgment lien before trying to execute on that lien. Case cite. Chitwood v. Guadagnoli, 230 N.E.3d 932 (Ind. Ct. App. 2024) Legal issue. Whether summary judgment for Plaintiff in...      Related StoriesAssignee Of Judgment Unable To Pursue Collection Absent Order Substituting PartiesBoth An Appeal And A Bond Generally Are Required To Stay Proceedings SupplementalWhat Is “Constructive Notice” In The Context Of Indiana Real Estate Law? ... More