In re Vantage Investments, Inc.

Description: Debtor ′ s objection to deficiency claim sustained in part and overruled in part. Court disallows claim for real estate taxes paid and expenditures incurred for repairs made to real property after a foreclosure sale. Court found claimant had an oral assignment of the necessary loan documents, but that there was insufficient evidence regarding when the assignment occurred to find that it held the loan documents at the time the taxes were paid or expenditures made for the repairs. Absent being the note holder when making expenditures related to property purchased at a foreclosure sale, the purchaser takes the property "as is." Court found claimant foreclosed real and personal property together pursuant to Mo.Rev.Stat.section 400.9-604(a)(2), thus, Part 6 of Article 9 of the UCC was inapplicable and debtor ′ s multiple claims for affirmative relief were unfounded.

Date of opinion: 3/14/08

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