June 2015

National Bank Wins Appeal to Assert Primacy of Mortgage Lien in Foreclosure

A national bank won an appeal to assert the priority of its mortgage lien over a mechanic’s lien in foreclosure proceedings for a shopping center in default. Faegre Baker Daniels successfully argued to overturn the trial court’s ruling that misinterpreted the interplay between the laws governing mechanic’s liens and recording statutes. The trial court decision would have required the bank to hold a portion of the sale proceeds from the property to satisfy the mechanic’s lien.

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