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Equity Investment Partners, LP v. Lenz

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[PUBLISH]

Before WILSON and COX, Circuit Judges, and RESTANI,*fn1 Judge.

Equity Investment Partners, LP (“Equity”) claims to hold a security interest in certain real property owned by Karin Lenz (“Karin”). The Internal Revenue Service (“IRS”) placed a lien on the real property due to Karin’s and her husband’s unpaid tax liabilities. Equity filed an action against Karin and the United States seeking to foreclose its mortgage and to establish the priority of its security interest over the federal tax lien. The IRS counterclaimed to establish the priority of its tax lien. The district court granted the IRS summary judgment establishing that the tax lien was a superior interest. The court held that Equity did not qualify as a “holder of a security interest” under I.R.C. § 6323. Equity appeals. We vacate and remand for further proceedings.

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