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Foreclosure Of Charging Order Lien

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March 28, 2022, at 02:30 AM by 50.159.12.10 -
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The confusion manifests itself in the creditor (and sometimes the court) thinking that foreclosure is of the entity itself, and not merely the charging order lien. This confusion can be substantially negated by an expanded Comment on the issue that the foreclosing creditor becomes no more than an involuntary assignee of the interest and with no greater rights. No statutory change is suggested.

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The confusion manifests itself in the creditor (and sometimes the court) thinking that foreclosure is of the entity itself, and not merely the charging order lien. In fact, the purchaser of the interest at the judicial sale merely puts the purchaser into the position of an involuntary assignee, without any management or voting rights, but now the purchaser becomes liable for the Form K-1 distributions of taxable income, i.e., no better rights than before, but now you get to pay tax too.

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2019.06.24 ... Charging Order Protection Backfires At Judicial Sale In Preservation Holdings Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019).

  1. Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019). https://chargingorder.com/opinion-2019-illinois-preservation-holdings-charging-order.html

2018.07.30 ... Judicial Foreclosure Of An Alleged Single-Member Florida LLC Fails In Saadi

  1. Saadi v. Maroun, 2018 WL 1282325 (M.D.Fla., March 13, 2018). https://chargingorder.com/opinion-2018-florida-saadi-charging-order.html

2015.02.18 ... Florida Charging Order Foreclosure Of A Nevis LLC In Barber

  1. Wells Fargo Bank v. Barber, 2015 WL 470589 (M.D.Fla., Feb. 4, 2015). https://chargingorder.com/opinion-2015-florida-barber-charging-order.html

Disalvo Properties, LLC v. Bluff View Commercial, LLC, 2015 WL 3759402 (Mo.App., 2015).

  1. DiSalvo Properties, LLC v. Bluff View Commercial, LLC, 2015 WL 3759402 (Mo.App., 2015). https://chargingorder.com/opinion-2015-missouri-disalvo-charging-order.html

Levy v. Carolinian, LLC, 2014 WL 4347503 (S.C., 2014).

  1. Levy v. Carolinian, LLC, 2014 WL 4347503 (S.C., 2014). https://chargingorder.com/opinion-2014-south-carolina-levy-charging-order.html

Kriti Ripley, LLC v. Emerald Investments, LLC, 2013 WL 3200596 (S.C., June 26, 2013).

  1. Kriti Ripley, LLC v. Emerald Investments, LLC, 2013 WL 3200596 (S.C., June 26, 2013). https://chargingorder.com/opinion-2013-south-carolina-kriti-ripley-foreclosure-charging-order.html

Sanders v. Ohmite Holding, LLC, 2011 WL 598436 (Del.Ch., Unpublished, 2011).

  1. Sanders v. Ohmite Holding, LLC, 2011 WL 598436 (Del.Ch., Unpublished, 2011). https://chargingorder.com/opinion-2011-delaware-sanders-charging-order.html

Stewart v. Lanier Park Medical Office Building, Ltd., 578 S.E.2d 572 (Ga.App., 2003).

  1. Stewart v. Lanier Park Medical Office Building, Ltd., 578 S.E.2d 572 (Ga.App., 2003). https://chargingorder.com/opinion-2003-georgia-stewart-foreclosure-sale-charging-order.html

Herring v. Keasler, 563 S.E.2d 614 (N.C.App. 06/04/2002).

  1. Herring v. Keasler, 563 S.E.2d 614 (N.C.App. 06/04/2002). https://chargingorder.com/opinion-2002-north-carolina-herring-foreclosure-charging-order.html

Webster v. Dalcoma Limited Partnership Four, No. CA2000-11-028 (Ohio App. Dist.12 09/17/2001).

  1. Webster v. Dalcoma Limited Partnership Four, No. CA2000-11-028 (Ohio App. Dist.12 09/17/2001). https://chargingorder.com/opinion-2001-ohio-webster-foreclosure-sale-charging-order.html

Lauer Construction Inc. v. Schrift, 123 Md.App. 112, 716 A.2d 1096 (Md.Sp.App. 09/02/1998).

  1. Lauer Construction Inc. v. Schrift, 123 Md.App. 112, 716 A.2d 1096 (Md.Sp.App. 09/02/1998). https://chargingorder.com/opinion-1998-maryland-lauer-construction-foreclosure-sale-charging-order.html

Givens v. National Loan Investors, L.P., 724 So.2d 610 (Fla.App. Dist.5 12/18/1998).

  1. Givens v. National Loan Investors, L.P., 724 So.2d 610 (Fla.App. Dist.5 12/18/1998). https://chargingorder.com/opinion-1998-florida-givens-foreclosure-sale-charging-order.html

Nigri v. Lotz, 453 S.E.2d 780 (Ga.App. 02/01/1995).

  1. Nigri v. Lotz, 453 S.E.2d 780 (Ga.App. 02/01/1995). https://chargingorder.com/opinion-1995-georgia-nigri-foreclosure-sale-charging-order.html

Madison Hills LTD v. Madison Hills, Inc., 644 A.2d 363 (Conn.App. 06/06/1994).

  1. Madison Hills LTD v. Madison Hills, Inc., 644 A.2d 363 (Conn.App. 06/06/1994). https://chargingorder.com/opinion-1994-connecticut-madison-hills-foreclosure-sale-charging-order.html

Hellman v. Anderson, 233 Cal. App. 3d 840, 284 Cal. Rptr. 830 (Cal.App.Dist.3 08/26/1991).

  1. Hellman v. Anderson, 233 Cal. App. 3d 840, 284 Cal. Rptr. 830 (Cal.App.Dist.3 08/26/1991). https://chargingorder.com/opinion-1991-california-hellman-foreclosure-sale-charging-order.html
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March 27, 2022, at 06:01 PM by 50.159.12.10 -
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2012.06.22 ... Owner Of Debtor LLC Goes To Jail For Contempt For Interfering With Foreclosure Sale [[2012NorthCarolinaCowstone | +]

In re Talbut, 2016 WL 937373 (N.D.Ohio, Slip Copy, 2016).

  1. In re Talbut, 2016 WL 937373 (N.D.Ohio, Slip Copy, 2016). https://chargingorder.com/opinion-2016-ohio-talbut-charging-order.html
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  1. In re Talbut, 2016 WL 937373 (N.D.Ohio, Slip Copy, 2016). https://chargingorder.com/opinion-2016-ohio-talbut-charging-order.html
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  • Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019).
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2019.06.24 ... Charging Order Protection Backfires At Judicial Sale In Preservation Holdings Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019).

  1. Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019). https://chargingorder.com/opinion-2019-illinois-preservation-holdings-charging-order.html

2018.07.30 ... Judicial Foreclosure Of An Alleged Single-Member Florida LLC Fails In Saadi

  1. Saadi v. Maroun, 2018 WL 1282325 (M.D.Fla., March 13, 2018). https://chargingorder.com/opinion-2018-florida-saadi-charging-order.html

2015.02.18 ... Florida Charging Order Foreclosure Of A Nevis LLC In Barber

  1. Wells Fargo Bank v. Barber, 2015 WL 470589 (M.D.Fla., Feb. 4, 2015). https://chargingorder.com/opinion-2015-florida-barber-charging-order.html

2012.06.22 ... Owner Of Debtor LLC Goes To Jail For Contempt For Interfering With Foreclosure Sale [[2012NorthCarolinaCowstone | +]

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  1. DiSalvo Properties, LLC v. Bluff View Commercial, LLC, 2015 WL 3759402 (Mo.App., 2015). https://chargingorder.com/opinion-2015-missouri-disalvo-charging-order.html
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  1. Levy v. Carolinian, LLC, 2014 WL 4347503 (S.C., 2014). https://chargingorder.com/opinion-2014-south-carolina-levy-charging-order.html
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  1. Kriti Ripley, LLC v. Emerald Investments, LLC, 2013 WL 3200596 (S.C., June 26, 2013). https://chargingorder.com/opinion-2013-south-carolina-kriti-ripley-foreclosure-charging-order.html
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  1. Sanders v. Ohmite Holding, LLC, 2011 WL 598436 (Del.Ch., Unpublished, 2011). https://chargingorder.com/opinion-2011-delaware-sanders-charging-order.html
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  1. Stewart v. Lanier Park Medical Office Building, Ltd., 578 S.E.2d 572 (Ga.App., 2003). https://chargingorder.com/opinion-2003-georgia-stewart-foreclosure-sale-charging-order.html
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  1. Herring v. Keasler, 563 S.E.2d 614 (N.C.App. 06/04/2002). https://chargingorder.com/opinion-2002-north-carolina-herring-foreclosure-charging-order.html
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  1. Webster v. Dalcoma Limited Partnership Four, No. CA2000-11-028 (Ohio App. Dist.12 09/17/2001). https://chargingorder.com/opinion-2001-ohio-webster-foreclosure-sale-charging-order.html
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  1. Lauer Construction Inc. v. Schrift, 123 Md.App. 112, 716 A.2d 1096 (Md.Sp.App. 09/02/1998). https://chargingorder.com/opinion-1998-maryland-lauer-construction-foreclosure-sale-charging-order.html
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  1. Givens v. National Loan Investors, L.P., 724 So.2d 610 (Fla.App. Dist.5 12/18/1998). https://chargingorder.com/opinion-1998-florida-givens-foreclosure-sale-charging-order.html
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  1. Nigri v. Lotz, 453 S.E.2d 780 (Ga.App. 02/01/1995). https://chargingorder.com/opinion-1995-georgia-nigri-foreclosure-sale-charging-order.html
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Hellman v. Anderson, 233 Cal. App. 3d 840, 284 Cal. Rptr. 830 (Cal.App.Dist.3 08/26/1991).

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  1. Madison Hills LTD v. Madison Hills, Inc., 644 A.2d 363 (Conn.App. 06/06/1994). https://chargingorder.com/opinion-1994-connecticut-madison-hills-foreclosure-sale-charging-order.html

Hellman v. Anderson, 233 Cal. App. 3d 840, 284 Cal. Rptr. 830 (Cal.App.Dist.3 08/26/1991).

  1. Hellman v. Anderson, 233 Cal. App. 3d 840, 284 Cal. Rptr. 830 (Cal.App.Dist.3 08/26/1991). https://chargingorder.com/opinion-1991-california-hellman-foreclosure-sale-charging-order.html
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(:pagelist link=Category.Foreclosure list=normal:)

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FORECLOSURE ARTICLES

  • 2019.06.24 ... Charging Order Protection Backfires At Judicial Sale In Preservation Holdings
    • Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019).
  • 2018.07.30 ... Judicial Foreclosure Of An Alleged Single-Member Florida LLC Fails In Saadi
  • 2015.02.18 ... Florida Charging Order Foreclosure Of A Nevis LLC In Barber
  • 2012.06.22 ... Owner Of Debtor LLC Goes To Jail For Contempt For Interfering With Foreclosure Sale
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Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019).

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(:pagelist link=Category.Foreclosure list=normal+:)

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(:pagelist link=Category.Foreclosure list=normal:)

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(:pagelist link=Category.Foreclosure list=normal+:)

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Topic Foreclosure

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Topic Foreclosure TopicsExemption

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topic Foreclosure

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Topic Foreclosure

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topic foreclosure

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topic Foreclosure

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(:pagelist link=Category.foreclosure list=normal:)

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(:pagelist link=Category.Foreclosure list=normal:)

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(:title TEXT:) (:Summary: TEXT:) (:description TEXT:) (:keywords charging order, TEXT:)

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(:title Foreclosure Of Charging Order Lien:) (:Summary: Foreclosure Of Charging Order Lien:) (:description Foreclosure Of Charging Order Lien:) (:keywords charging order, foreclosure, foreclosing, lien:)

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topic TEXT

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topic foreclosure

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TEXT

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While foreclosures of charging order liens are very rare (because it rarely improves the creditor's position, and may in fact worsen it), when a creditor does move to foreclose there is often confusion about what happens.

The confusion manifests itself in the creditor (and sometimes the court) thinking that foreclosure is of the entity itself, and not merely the charging order lien. This confusion can be substantially negated by an expanded Comment on the issue that the foreclosing creditor becomes no more than an involuntary assignee of the interest and with no greater rights. No statutory change is suggested.

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TEXT OPINIONS

(:pagelist link=Category.TEXT list=normal:)

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FORECLOSURE OPINIONS

(:pagelist link=Category.foreclosure list=normal:)

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TEXT

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Preservation Holdings, LLC v. Norberg, 2019 IL App (1st) 181136 (June 14, 2019).

In re Talbut, 2016 WL 937373 (N.D.Ohio, Slip Copy, 2016).

Disalvo Properties, LLC v. Bluff View Commercial, LLC, 2015 WL 3759402 (Mo.App., 2015).

Levy v. Carolinian, LLC, 2014 WL 4347503 (S.C., 2014).

Kriti Ripley, LLC v. Emerald Investments, LLC, 2013 WL 3200596 (S.C., June 26, 2013).

Sanders v. Ohmite Holding, LLC, 2011 WL 598436 (Del.Ch., Unpublished, 2011).

Stewart v. Lanier Park Medical Office Building, Ltd., 578 S.E.2d 572 (Ga.App., 2003).

Herring v. Keasler, 563 S.E.2d 614 (N.C.App. 06/04/2002).

Webster v. Dalcoma Limited Partnership Four, No. CA2000-11-028 (Ohio App. Dist.12 09/17/2001).

Lauer Construction Inc. v. Schrift, 123 Md.App. 112, 716 A.2d 1096 (Md.Sp.App. 09/02/1998).

Givens v. National Loan Investors, L.P., 724 So.2d 610 (Fla.App. Dist.5 12/18/1998).

Nigri v. Lotz, 453 S.E.2d 780 (Ga.App. 02/01/1995).

Madison Hills LTD v. Madison Hills, Inc., 644 A.2d 363 (Conn.App. 06/06/1994).

Hellman v. Anderson, 233 Cal. App. 3d 840, 284 Cal. Rptr. 830 (Cal.App.Dist.3 08/26/1991).

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topic

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topic TEXT

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TEXT

TEXT OPINIONS

(:pagelist link=Category.TEXT list=normal:)

TEXT

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(:title TEXT:) (:Summary: TEXT:) (:description TEXT:) (:keywords charging order, TEXT:) (:linebreaks:) topic

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