(6th Cir. Mar. 7, 2018)
The Sixth Circuit affirms the bankruptcy court’s decision finding that the debtor had redeemed real property following a pre-petition foreclosure action. If the debtor could establish that it had not redeemed the property then its affiliate may have title to the property and the bank’s mortgage would no longer encumber the property. However, because Michigan law permits parties to extend the redemption period and the evidence supported a finding that the parties agreed to an extension and negotiated the redemption payment, the mortgage is still effective. Opinion below.
Attorney for Appellant: Robert N. Bassel
Attorney for Appellee: ECP Commerical II LLC
Author: Matt Lindblom