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Surrendering commerical property through the plan


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#1 bkyparalegal_2976

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Posted 07 February 2013 - 08:56 AM

A client of ours has pledged collateral for their son's purchase of a commercial property that is now in foreclosure and also has a huge tax lien on it. The collateral they pledged is a home free and clear of a mortgage. They also have two other homes with no mortgages. Obviously this will be a 100% plan, however will the judgment creditor of the mortgage on the commercial property be recieving anything? Or the taxing authority? We are surrendering the property through the Plan. Thanks in advance.

#2 Guest_FindLaw_Amir_*

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Posted 07 February 2013 - 08:59 AM

What is this plan you are referring to?

#3 bkyparalegal_2976

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Posted 07 February 2013 - 09:00 AM

The Chapter 13 Plan




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