Bankruptcy – Mortgage – Mutual mistake

By New England In-House Staff
Posted: 6:17 pm Tue, January 24, 2012
TAGS: Jan. 30 2012 issue

Where an assignee of a mortgage lender asserted an equitable interest in the home of the debtors, that claim was properly rejected based on the fact that a new mortgage instrument, executed in connection with a refinancing, listed as collateral not the debtors’ house but instead an abutting unimproved 16-acre lot.

In Re: Trask, Sara Marie, et al. (Lawyers Weekly No. 03-024-11) (13 pages) (Boroff, J.) (BAP) Appealed from the U.S. Bankruptcy Court for the District of Maine (Docket No. EB 11-043) (Dec. 15, 2011).