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The content of this blog is intended for informational purposes only. As laws differ by jurisdiction, the information herein does not apply to every reader.

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Clark v. Rameker and the Inherited IRA

  
  
  
  
Inherited IRA

by William W. Erhart, Esq.

As you also know, for most Americans, the largest asset we typically have is our house, but the second largest asset we typically have is our qualified retirement plan, such as an IRA.

We do not usually have to worry too much about our own IRAs with regard to asset protection. Qualified retirement plans, for the most part are exempt from the execution process. That means that judgment creditors cannot attach IRAs if we are unfortunate enough to have a car accident or get otherwise sued and have a judgment against us.

Still Standing: A North Carolina Bankruptcy Perspective

  
  
  
  
Man stressed out over bill payment

by Troy Staley, Esq.

Throughout the challenging ambit surrounding the mortgage servicing industry in the past five years many prevalent issues have been resolved, standards have become universal, and awareness and transparency is preached around every corner; however a few issues will not go away.

On top of that list is the issue of standing. Fortunately for North Carolina creditors' attorneys we have finally been awarded some tangible guidance and explanation in what appeared to be a never-ending standing conundrum.

Interplay Between Bankruptcy and Landlord-Tenant Law

  
  
  
  
Bankruptcy

by David Hawthorne, Esq.

In these tough economic times, bankruptcies have affected all areas of our economy, and the landlord/tenant relationship is no exception. The following is a primer on the interplay between bankruptcy law and landlord/tenant law. 

Changes and Developments Affecting Leases in Bankruptcy

  
  
  
  
Property and Bankruptcy

by Henry F. Luepke, Esq.

The answer to most questions that arise in bankruptcy with respect to a real property lease will be found, at least in part, in section 365. 11 U.S.C. § 365. This is the provision that deals with lease assumption and rejection. The statute is extensive, but its basic concept is relatively simple. If the lease is assumed, the terms of the lease remain in full effect so that the parties’ obligations are not changed. If the lease is rejected, the non-debtor parties may then pursue their remedies, both under the lease and as creditors in bankruptcy.

Bankruptcy Basics: What Every Landlord Should Know

  
  
  
  
Bankruptcy Breaks the Bank

by James H. Billlingsley, Esq.

Most landlords will experience a tenant bankruptcy at some point. The Bankruptcy Code provides certain protections to the tenant during the bankruptcy. Landlords need to know some basic concepts to even begin to deal with the issues that arise when the tenant files bankruptcy.

 

Real Estate Loan Workouts and Present Value Analysis

  
  
  
  
Foreclosure

by Denise Evans, Esq.

Any attorney who negotiates loan workouts or short sales needs to understand the Net Present Value (NPV) analysis used by virtually all lenders. 

Simply put, the lender calculates the value of a foreclosure and compares it to the value of a workout or short sale.  Because a foreclosure and a loan modification will yield future cash, the lender must discount them to today's cash equivalent in order to compare them to the nearly-immediate cash obtained from a short sale.

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