Updated almost 5 years ago on . Most recent reply
AL Tax Lien Cert: Owner filed Ch11
In mobile county, the owner filed bankruptcy / chapter 11. My Business partner purchased the tax certificate from the State (AL). The filing listed biz partner as a creditor; however the associated property is not the property purchased.
Multiple creditors are listed with their associated property affiliation.
One of the creditors is a bank and biz partner’s tax certificate property is listed under the bank’s name, not his name. There is no mortgage on the property based on probate records. (As far as we can tell)
He is ready to file an response (or claim document); however I presume the claim amount and property listing must be updated to reflect the correct details. The next steps is for him to get that updated.
Ejectment suit not initiated due to the service doc; and at this point it seems moot .
Has anyone dealt with a chapter 11 filing during redemption period to share insight/guidance of your experience? Will the tax investment become recoverable or is there a way to gain the property if the claim obligation is not met... during the redemption period?