CRP Holdings v. O’Sullivan

The Bankruptcy Appellate Panel affirmed the bankruptcy court's order holding that CRP holds a judicial lien against the real property of debtor and avoiding that lien under Bankruptcy Code 522(f)(1). The panel held that CRP's recording of its judgment fastened an existing, but presently unenforceable lien on the property. Furthermore, the fact that an unenforceable lien exists was buttressed by CRP's belief that upon the death of debtor's wife, it will have an enforceable lien that will survive the bankruptcy. View "CRP Holdings v. O'Sullivan" on Justia Law