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COA finds trust that bought foreclosed home gained insurance equity

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An estate that purchased a foreclosed house at a sheriff’s sale established an equitable lien through which it was entitled to collect proceeds in the event of an insured loss, the Indiana Court of Appeals ruled Friday.

The decision in The Marling Family Trust v. Allstate Ins. Company, 49A02-1203-CT-186, regards the trust’s purchase of a home on West Henry Street in Indianapolis that had been owned by Thomas Pipes. A claim arose when the purchased home was found to have sustained interior water damage.

The trial court granted summary judgment in favor of Allstate without issuing findings.

In reversing the Marion Superior Court ruling, the COA found that the trial court erred in its application of an appellate panel’s rehearing of Lakeshore Bank & Trust Company v. United Farm Bureau Mutual Insurance Company, Inc. 474 N.E.2d 1024, 1026 (Ind. Ct. App. 1985).   

“The trust’s mortgage agreement with Pipes required Pipes to insure the property for the benefit of the trust as mortgagee. Under Lakeshore, this is sufficient to give rise to an equitable lien in the trust’s favor,” Judge Nancy Vaidik wrote for the unanimous panel.

“The trust protected its equitable interest in the policy proceeds by informing Allstate of its mortgagee status before any policy proceeds were distributed. Thus, to the extent that the loss here is otherwise covered under the terms of Pipes’ insurance policy, the trust may recover policy proceeds.

“We reverse the judgment of the trial court and remand for a determination of whether the loss is covered under the policy,” Vaidik wrote.






 


 

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  1. Indianapolis employers harassment among minorities AFRICAN Americans needs to be discussed the metro Indianapolis area is horrible when it comes to harassing African American employees especially in the local healthcare facilities. Racially profiling in the workplace is an major issue. Please make it better because I'm many civil rights leaders would come here and justify that Indiana is a state the WORKS only applies to Caucasian Americans especially in Hamilton county. Indiana targets African Americans in the workplace so when governor pence is trying to convince people to vote for him this would be awesome publicity for the Presidency Elections.

  2. Wishing Mary Willis only God's best, and superhuman strength, as she attempts to right a ship that too often strays far off course. May she never suffer this personal affect, as some do who attempt to change a broken system: https://www.youtube.com/watch?v=QojajMsd2nE

  3. Indiana's seatbelt law is not punishable as a crime. It is an infraction. Apparently some of our Circuit judges have deemed settled law inapplicable if it fails to fit their litmus test of political correctness. Extrapolating to redefine terms of behavior in a violation of immigration law to the entire body of criminal law leaves a smorgasbord of opportunity for judicial mischief.

  4. I wonder if $10 diversions for failure to wear seat belts are considered moral turpitude in federal immigration law like they are under Indiana law? Anyone know?

  5. What a fine article, thank you! I can testify firsthand and by detailed legal reports (at end of this note) as to the dire consequences of rejecting this truth from the fine article above: "The inclusion and expansion of this right [to jury] in Indiana’s Constitution is a clear reflection of our state’s intention to emphasize the importance of every Hoosier’s right to make their case in front of a jury of their peers." Over $20? Every Hoosier? Well then how about when your very vocation is on the line? How about instead of a jury of peers, one faces a bevy of political appointees, mini-czars, who care less about due process of the law than the real czars did? Instead of trial by jury, trial by ideological ordeal run by Orwellian agents? Well that is built into more than a few administrative law committees of the Ind S.Ct., and it is now being weaponized, as is revealed in articles posted at this ezine, to root out post moderns heresies like refusal to stand and pledge allegiance to all things politically correct. My career was burned at the stake for not so saluting, but I think I was just one of the early logs. Due, at least in part, to the removal of the jury from bar admission and bar discipline cases, many more fires will soon be lit. Perhaps one awaits you, dear heretic? Oh, at that Ind. article 12 plank about a remedy at law for every damage done ... ah, well, the founders evidently meant only for those damages done not by the government itself, rabid statists that they were. (Yes, that was sarcasm.) My written reports available here: Denied petition for cert (this time around): http://tinyurl.com/zdmawmw Denied petition for cert (from the 2009 denial and five year banishment): http://tinyurl.com/zcypybh Related, not written by me: Amicus brief: http://tinyurl.com/hvh7qgp

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