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John Waller
Indianapolis
John Waller is an Indianapolis attorney who represents parties involved in the foreclosure of commercial mortgages, the enforcement of security interests and collection of business debts.
Recent Activity
Tax Deed Denied Because Redemption Notice Suggested The Amount To Redeem Included Surplus Funds
Lesson. A tax sale purchaser may not obtain a tax deed if the statutory redemption notice inflates the redemption amount. Such notices should not include any overbid/surplus funds as being required for redemption. Case cite. Pinch-N-Post, LLC v. McIntosh, 132... Continue reading
Posted Jul 31, 2020 at Indiana Commercial Foreclosure Law
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Court Invalidates Mortgages In Favor Of Creditor In Judgment Lien Foreclosure Action
Lesson. If you are trying to collect a judgment and suspect the judgment debtor granted a bogus mortgage to neutralize the judgment lien, then study the description of the purported debt in the mortgage and investigate the debt’s nature. You... Continue reading
Posted Jul 20, 2020 at Indiana Commercial Foreclosure Law
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Indiana's Recording Law Change, Effective July 1
I'm passing along information distributed by the Indiana State Bar Association. For today's content, all the credit goes to the ISBA: On July 1, 2020, an obscure change to an Indiana recording statute becomes effective, requiring lawyers to change how... Continue reading
Posted Jul 6, 2020 at Indiana Commercial Foreclosure Law
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Governor Holcomb's June 30 Order Extending Residential Foreclosure Moritoriaum
Section 1 of the Governor's order addresses residential mortgage foreclosures and follows-up his order order from March 19th, which was the subject of my March 28th post. Here are the highlights: Residential mortgage foreclosure actions based upon nonpayment cannot be... Continue reading
Posted Jul 2, 2020 at Indiana Commercial Foreclosure Law
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Lender’s Failure To Comply With HUD’s Face-To-Face Meeting Requirement Dooms Indiana Mortgage Foreclosure Action
Lesson. A borrower/mortgagor may be able to defeat a foreclosure action if a lender/mortgagee does not comply with HUD regulations designed to be conditions precedent to foreclosure. For example, in certain cases, a failure to have an in-person meeting with... Continue reading
Posted Jun 29, 2020 at Indiana Commercial Foreclosure Law
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Marion County (Indianapolis) Sheriff's Sales Will NOT Start Back Up In July
Following-up last week's post (below), we learned this morning that the sheriff's office has postponed the July sale "due to the extended evictions and foreclosures issued by Gov Eric Holcomb through August 1st." No sale in July. _______________ Following the... Continue reading
Posted Jun 23, 2020 at Indiana Commercial Foreclosure Law
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“Debtor” In Alleged Fraudulent Transfer Must Be Liable For Creditor’s Underlying Claim
Lesson. If there is no underlying claim, then there can be no fraudulent transfer. Case cite. Underwood v. Fulford, 128 N.E.3d 519 (Ind. Ct. App. 2019) Legal issue. What is a “debtor” under Indiana’s Uniform Fraudulent Transfer Act? Vital facts.... Continue reading
Posted Jun 5, 2020 at Indiana Commercial Foreclosure Law
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Indiana Supreme Court's 5/29/20 Order Extending Its 3/16/20 Order Related to COVID Relief And Procedures
On May 29, 2020, the Supreme Court entered the following order: Order Extending Trial Courts' Emergency Tolling Authority and Setting Expiration of Other Emergency Orders. The latest order follows-up the original order entered March 16, 2020, which I discussed in... Continue reading
Posted Jun 2, 2020 at Indiana Commercial Foreclosure Law
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Status Of Marion County Indiana Sheriff's Sales
The Marion County Civil Sheriff's Office issued the following email last week: The Marion County Sheriff sale for June 17th has been cancelled. These sales will be moved to August. However, your sales that moved from April to the June... Continue reading
Posted May 18, 2020 at Indiana Commercial Foreclosure Law
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Judgment Creditor Entitled To Recover Entire Value Of Real Estate Fraudulently Conveyed
Lesson. Although the transferee of real estate fraudulently conveyed theoretically could retain, or receive credit for, money spent to improve or otherwise increase the value of the subject property, the credit will only apply to improvements made after the fraudulent... Continue reading
Posted May 14, 2020 at Indiana Commercial Foreclosure Law
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Indiana Court Of Appeals Clarifies Bond Requirement In Corvette Receivership
Burelli v. Martin, 130 N.E.3d 661 (Ind. Ct. App. 2019) approved the appointment of a receiver to sell an expensive item of personal property, subject to the posting of a bond. At a judgment creditor’s request, the trial court appointed... Continue reading
Posted Apr 29, 2020 at Indiana Commercial Foreclosure Law
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Reminder: Receivership CLE Next Wednesday, April 22nd
I'll be co-presenting (via Zoom) an hour-long continuing legal education program for the IndyBar on Wednesday, 4/22/20, from 4-5 p.m EDT. For more information, click here: Vignettes from Receivership Cases and Comparisons to Bankruptcy. Jason Burke of Blackwell Burke &... Continue reading
Posted Apr 15, 2020 at Indiana Commercial Foreclosure Law
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Status Of Indiana Sheriff's Sales
For what it's worth, the Marion County (Indianapolis) Civil Sheriff's Office announced last week that its May 2020 sale has been cancelled. (The sheriff previously cancelled the April sale.) The email from Marion County indicated that the June 2020 sale... Continue reading
Posted Apr 13, 2020 at Indiana Commercial Foreclosure Law
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The Federal CARES Act - Multifamily Properties With Federally Backed Loans
Here is a verbatim quote of Section 4023: FORBEARANCE OF RESIDENTIAL MORTGAGE LOAN PAYMENTS FOR MULTIFAMILY PROPERTIES WITH FEDERALLY BACKED LOANS (a) IN GENERAL.—During the covered period, a multifamily borrower with a Federally backed multifamily mortgage loan experiencing a financial... Continue reading
Posted Apr 6, 2020 at Indiana Commercial Foreclosure Law
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The Federal CARES Act - Consumer/Residential Mortgage Loans
Here is a verbatim quote of Section 4022: FORECLOSURE MORATORIUM AND CONSUMER RIGHT TO REQUEST FORBEARANCE (a) DEFINITIONS.—In this section: (1) COVID–19 EMERGENCY.—The term “COVID–19 emergency” means the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the... Continue reading
Posted Apr 6, 2020 at Indiana Commercial Foreclosure Law
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Governor Holcomb's Executive Order 20-06: How Does It Affect Indiana Foreclosures?
On March 19, 2020, Indiana's Governor handed down his Order for Temporary Prohibition on Evictions and Foreclosures. With regard to mortgage foreclosures, here's what it says in pertinent part (italics added): WHEREAS, the adverse economic impacts of COVID-19 … on... Continue reading
Posted Mar 28, 2020 at Indiana Commercial Foreclosure Law
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Force Mejeure And The COVID-19 Pandemic: Impact On Indiana Notes and Mortgages
What does force majeure mean? A “force majeure” is “[a]n event or effect that can be neither anticipated nor controlled” and “prevents someone from doing or completing something that he or she had agreed or officially planned to do.” Black’s... Continue reading
Posted Mar 24, 2020 at Indiana Commercial Foreclosure Law
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Boone County Courts COVID-19 Order
If and to the extent you have any cases pending in Boone County, Indiana (my home county), please see the following order entered by the Indiana Supreme Court: Boone County Order. As to Marion County (where I work), my understanding... Continue reading
Posted Mar 18, 2020 at Indiana Commercial Foreclosure Law
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Indiana State Bar Association: COVID-19 Updates for the Legal Community
To: Indiana State Bar Association Members From: Indiana State Bar Assocaition Date: 3/16/20 __________ In response to the COVID-19 outbreak, the Supreme Court has ordered trial courts to implement relevant portions of Continuity of Operations Planning (such as postponing jury... Continue reading
Posted Mar 16, 2020 at Indiana Commercial Foreclosure Law
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Marion County Cancels Sheriff's Sales for March Only, For Now
Teena Willard of the Marion County Civil Sheriff's Office advised this afternoon that the sheriff's sales scheduled for March and April have been cancelled. Updated 3/13/20: The April 15, 2020 sale is back on for now, per email from the... Continue reading
Posted Mar 12, 2020 at Indiana Commercial Foreclosure Law
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Receivership/Bankruptcy CLE Opportunity
I'll be co-presenting an hour-long continuing legal education program for the IndyBar on Wednesday, 4/22/20, from 4-5 p.m. For more information, click here: Vignettes from Receivership Cases and Comparisons to Bankruptcy. Jason Burke of Blackwell Burke & Ramsey will be... Continue reading
Posted Mar 11, 2020 at Indiana Commercial Foreclosure Law
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Indiana Supreme Court Negates Reasonableness Test For Statute Of Limitations
Three cases. On February 17, 2020, Indiana’s highest court issued opinions in two cases dealing with the statute of limitations applicable to “closed account” notes or, in other words, installment contracts with a maturity date. Here are links to the... Continue reading
Posted Mar 10, 2020 at Indiana Commercial Foreclosure Law
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Indiana Supreme Court Rules On Statute Of Limitations Cases
On February 10th, I posted - Indiana Supreme Court Currently Reviewing Statute Of Limitations Rules Applicable to Promissory Notes. Well, a week later the Court handed down its two opinions and ruled in favor of the lenders. You can review... Continue reading
Posted Feb 28, 2020 at Indiana Commercial Foreclosure Law
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Interests Held In A Joint Tenancy With Right Of Survivorship Are Not Exempt From Execution
Lesson. Unlike spouses jointly holding real estate as a tenancy by the entireties, real estate co-owned under joint tenancy is subject to a lien arising from a judgment against one of the joint tenants. Case cite. Flatrock River Lodge v.... Continue reading
Posted Feb 18, 2020 at Indiana Commercial Foreclosure Law
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Indiana Supreme Court Currently Reviewing Statute Of Limitations Rules Applicable to Promissory Notes
Indiana law is clear that actions to enforce promissory notes have a six-year statute of limitations. The trickier question surrounds when the clock starts ticking on the six years. The law frames this issue as: when does the cause of... Continue reading
Posted Feb 10, 2020 at Indiana Commercial Foreclosure Law
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