The Internal Revenue Service has the right to redeem real property which was sold in a nonjudicial foreclosure action by a third party to satisfy an outstanding encumbrance which has a priority over a Notice of federal Tax Lien. (Internal Revenue Manual 5.12.5.1; 26 U.S.C. §7425 [after non-judicial foreclosure]; 28 U.S.C. §2410(c) [after judicial foreclosure].) The redemption period expires 120 days from the date of the trustee's sale or sale ...

California law requires eviction notices (called "notices to quit") to unambiguously terminate tenancy upon expiration of a time period specified in the notice. These periods can vary based on the type of tenancy. For example, an owner after foreclosure may be evicted with a 3-day notice to quit. However, if the property also has a renter under a bona fide lease, that occupant may necessitate a 90-day notice to quit ...

The amendments to Article 9 are scheduled to take effect in a few short months. All creditors that file UCC Financing Statements to secure their interests in personal property need to understand the changes taking place. As Article 9 stands presently, in order for your security interest to be properly perfected, you must name an organization with the “registered name” as found in the public records of the applicable jurisdiction ...

In California, when a creditor obtains a judgment from the courts against a debtor, that creditor must then go through the process of locating assets that the debtor has that can be levied upon. In order for a creditor to find assets such as bank accounts, real property, vehicles, brokerage accounts, or employment information, the courts allow creditors to apply for and file with the court, an Application and Order ...

This article only addresses proofs of claim in Chapter 7 bankruptcy proceedings. The general rule for proofs of claim is: Proofs of claim must be filed on or before any deadline set by the bankruptcy court for filing proofs of claim. The corollary to this rule is: Proofs of claim do not need to be filed in bankruptcy cases where a deadline for filing proofs of claim is not set. A deadline ...

I have found that there are four things in life one can always count on. They are change, death, taxes and that when entering into settlement negotiations with a debtor, at some point in the discussion the debtor will threaten to file bankruptcy. In fact, this happens so frequently that I find myself making bets with my associates as to how many seconds into the conversation these magic words will ...