- 11 U.S.C.
Perez Mujica v. FirstBank P.R. (In re Perez Mujica)
Sep
08
2011
Ruling
Relief from stay denied where creditor had not recorded mortgage and was unsecured.
Procedural posture
Plaintiff debtor, brought an adversary proceeding seeking a holding that defendant creditor did not have a perfected mortgage lien over its real property under P.R. Laws Ann. tit. 30, § 2260, and was unsecured. The creditor asserted it was entitled to relief from the automatic stay under 11 U.S.C.S. § 362(b)(3). The parties filed cross motions for summary judgment. The mortgage in issue was unrecorded at the time of the bankruptcy filing.
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Court
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