Genova v. ESM Realty Trust (In re Stoll)
Sep
30
2005
Ruling
Beneficiaries, including the debtor, were deemed joints tenants in common of the assets of a trust, and the trustee was permitted to sell the trust property to obtain the estate's interest in the trust.
Procedural posture
Plaintiff, the chapter 7 trustee, sued defendants, two trusts and three individuals, including debtor, who each held a one-third interest in the trusts. The trustee alleged two causes of action. The first cause of action was for turnover of property of the bankruptcy estate pursuant to 11 U.S.C. § 542. The second sought a sale of the trusts'property pursuant to 11 U.S.C. § 363(h). The parties filed a motion for summary judgment.
ABI Membership is required to access the full summary of Genova v. ESM Realty Trust (In re Stoll) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: