Ch. 13 Bars Tax Deed Owner's Property Claim, 7th Circ. Says

Law360, New York (January 8, 2014, 1:56 PM EST) -- The property interests of a tax deed purchaser can be discharged in a property owner's Chapter 13 bankruptcy, the Seventh Circuit said Tuesday, leaving Illinois' tax deed holders scrambling to figure out the ramifications.

In a unanimous opinion, a three-judge panel said that after property owner and delinquent tax filer Todd LaMont entered bankruptcy, Lyubomir Alexandrov's tax deed claim was properly stayed under bankruptcy civil procedure rules and LaMont was free to work out tax payments in his bankruptcy plan.

“Here, because the [bankruptcy] plan succeeded,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Lyubomir Alexandrov v. Todd LaMont, et al


Case Number

13-1187

Court

Appellate - 7th Circuit

Nature of Suit

Date Filed

January 27, 2013

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.