Articles Posted in Real Estate Law

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Ruth Fulp placed her family farm in a revocable trust with trust assets going to her three children upon her death. Fulp decided to sell the farm to her son, Harold, a few years later. The proposed sale was for a low price to pay for Fulp's retirement home care and to keep the farm in the family. Ruth's daughter, Nancy, opposed the action, arguing that a bargain sale would breach Ruth's fiduciary duty to her children and deprive Nancy of her share of the trust. The trial court found that Ruth breached her fiduciary duty to the children by selling the farm at a low price. The Supreme Court reversed, holding that under the terms of the trust and the Indiana Trust Code, Ruth did not owe her children a fiduciary duty to sell the farm at less than fair market price and that Ruth did not effectively amend the trust by selling the farm. Remanded.View "Fulp v. Gilliland" on Justia Law

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At issue in this case was Ind. Code 6-1.1-24-3(b), which provides that a mortgagee annually request by certified mail a copy of notice that a parcel of real property is eligible for sale under the tax sale statutes. Here a bank, which held a mortgage on certain property, failed to submit a form affirmatively requesting from the county auditor to mail notice of a pending sale of the real property. Therefore, the bank was not notified that its mortgaged property was tax delinquent until after the property had been sold and the buyer requested a tax deed. The buyer filed a petition to direct the county auditor to issue a tax deed for the property, and the bank filed a response challenging the tax sale notice statutes as unconstitutional under the Fourteenth Amendment. The trial court issued an order holding that the statute was unconstitutional and denying the buyer's petition. The court of appeals affirmed. The Supreme Court reversed, holding that section 6-1.1-24-3(b) was constitutional under the due process clause of the Fourteenth Amendment. Remanded.View "M & M Inv. Group, LLC v. Ahlemeyer Farms, Inc." on Justia Law