Avoiding Mortgages: How Far Does a Bona Fide Purchaser Have To Go in Searching Records?

Trust – but verify. Every judge has his own take on these matters… and of course, his own investments to consider.

Bankruptcy-RealEstate-Insights

Wenzel v. Green Tree Servicing, LLC (In re Wenzel), 554 B.R. 861 (Bankr. W.D. Wis. 2016)

A chapter 7 trustee and a debtor sought to avoid as a preference a mortgage assignment that was recorded within 90 days prior to the bankruptcy filing. Underlying this claim was their contention that the original mortgage was void as against subsequent purchasers (thus allowing the trustee to avoid the lien) because no legal description was attached to the mortgage.

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