Kentucky Case Alert: Is your Borrower’s Insurance Policy void when you foreclose?
By: David C. Nalley, Partner A recent decision from the Kentucky Court of Appeals should alert lenders to review their customer’s insurance policies. A provision voiding the policy if foreclosure was initiated was upheld by the court in Papastefanou v. Ky. Growers Insurance Co., 2018 WL 4265653 (Ky. Ct. App. 2018). In the case, the Borrowers had obtained insurance from Kentucky Growers, and the mortgagees of both mortgages were additional named insureds on the policy. In 20
Update to DC Condo Super Priority Case Law
On September 13, 2018, the District of Columbia Court of Appeals rendered a decision in 4700 Conn 305 Trust v. Capital One, N.A. in relation to condominium foreclosures in D.C. The Court considered the issue as to whether a condominium lien covering a period in excess of six months’ worth of outstanding assessments is entitled to super-priority status. Under D.C. Code § 42-1903.13, condominium associations have a “Super-Priority Lien” over first mortgage lienholders to the e
