Deal With Maryland Trustee Cures Title Woes In Bankruptcy
GMAC made two loans to a Maryland real estate speculator secured by row homes on the same block in Baltimore. Investor Client bought one of the loans and discovered that one of the deeds of trust never existed, and therefore both properties had completely unmarketable title.
Two years earlier, the real estate speculator had filed for Chapter 7 bankruptcy. Baltimore bankruptcy lawyer Ronald Drescher made an arrangement with the Chapter 7 trustee to reopen the bankruptcy case and file a motion to approve a no-reserve auction for the properties that will allow the title to be cleaned up through the “sale free and clear” mechanism available under the United States Bankruptcy Code. The auction will then save the Client’s investment, depending upon market forces in the region.
A Track Record of Success in Maryland, Virginia, Pennsylvania, & Delaware Commercial Litigation & Bankruptcy Cases
DISCLAIMER: Please note that every case is different and these verdicts and settlements, while accurate, do not represent what we may obtain for you in your case.
