Sandburg Financial Corp. v. American Rice, Inc. (In the Matter of American Rice, Inc.), No. 11-40301 (5th Cir., Sept. 22, 2011)

CASE SNAPSHOT

Yesterday Governor Scott Walker signed into law SB 241 which permits non-judicial foreclosures for mortgages and assessment liens on timeshare estates and licenses.  The new law took effect upon being signed by Governor Scott Walker.

In a depressed economy wrought with defaulting developers, a lender in California facing a lien priority challenge should evaluate whether it would be worthwhile to secure a first priority position for its deed of trust through law and motion practice.

The case of In re Dickson, 655 F.3d 585 (6th Cir. 2011) centered on the status of the debtor’s manufactured home under Kentucky law.  In Kentucky, a manufactured home is considered personal property.  As such, in order for a lien to be effective, it must be noted on the certificate of title.  A manufactured home may be converted to real property, however, if the owner files an affidavit that states it is permanently affixed to real estate and then surrenders title.

Whittle Development, Inc. v. Branch Banking & Trust Co.

In re Provo Gateway, LLC (Bankr. D. Utah) Case no. 11-31259

In re Gelt Financial Corporation (Bankr. E.D. Pa.) Case no. 11-15827

In re Summer View Sherman Oaks Apartments, LLC (Bankr. C.D. Cal.) Case no. 11-19800

In re Piedmont Center Investments, LLC (Bankr. E.D. Wis.) Case no. 11-32453

In re GALP Highcross Limited Partnership (Bankr. S.D. Tex.) Case no. 11-36741
In re GALP Waters Limited Partnership (Bankr. S.D. Tex.) Case no. 11-36743