Vesting Property in Disinclined Creditors

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By Ansley Owens, Contributing Writer and Intern for the NACTT Academy (Nashville, TN)

A Chapter 13 plan may permit a debtor to transfer title of the property securing a claim to its secured creditor despite the creditor’s objection. In re Sagendorph, No. 14-41675, 2015 WL 3867955 (Bankr. D. Mass. June 22, 2015).

In July 2014, debtor Paul R. Sagendorph, II filed for Chapter 13 relief, listing three income-producing properties among his assets (Schedule A). His initial plan provided that the secured creditors’ claims to real estate would be paid in full through the . . .

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