Stubbins v. Wells Fargo Bank (In re Gibson)
Sep
29
2008
Ruling
Unperfected mortgage evidenced by affidavit avoided as trustee's interest as hypothetical lien creditor had priority under state law.
Procedural posture
Plaintiff, the chapter 7 trustee, sought to avoid defendant lender's interest in debtors' real property pursuant to 11 U.S.C.S. § 544(a), on the basis that the lender failed to record the mortgage document executed by the debtors, but rather filed an affidavit of facts relating to title. The original mortgage was not filed in the office of the county recorder. The trustee moved for summary judgment.
ABI Membership is required to access the full summary of Stubbins v. Wells Fargo Bank (In re Gibson) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: