Sign in to follow this  
Followers 0

Surrendering commerical property through the plan

3 posts in this topic

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.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
Followers 0