Chapter 17 : Bankruptcy

• Library: Standards for Examination of Real Estate Titles in Arkansas (2021 Ed.)

CHAPTER 17: BANKRUPTCY

Standard 17.1 Bankruptcy Case Information

1. If the examiner is put on notice that any person (including individuals, partnerships and corporations) vested with an interest in the property under examination filed a case under the United States Bankruptcy Code, 11 U.S.C. §§ 101-1532, then the examiner should first determine whether the person held the interest at any time the bankruptcy case was pending. If the person did not hold the interest at any time while the bankruptcy case was pending, then no further action with respect to the bankruptcy case should be necessary.
2. If the examiner determines that the person held an interest in the property under examination at any time while the bankruptcy case was pending, additional information should be obtained. The information may be obtained by an examination of the electronic court record or a certified copy of the bankruptcy court docket sheet or an examination of the actual documents filed in the case. The examiner should review documents or obtain other sufficient information to satisfy the examiner that the information obtained is accurate.
3. The following information should be obtained:

a. The date of the bankruptcy filing;
b. The chapter filed (chapter 7, 11, 12, or 13);
c. Whether the case is pending, i.e., whether the case is open or closed; and
d. If closed, the date the case was closed.

Standard 17.2 Property Sold in the Administration of a Pending Chapter 7, 11, 12 or 13 of the United States Bankruptcy Code, i.e., If the Case Is Open

1.

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