Perez Mujica v. FirstBank P.R. (In re Perez Mujica)

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.
Issue: 
ABI Membership is required to access the full summary of Perez Mujica v. FirstBank P.R. (In re Perez Mujica). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on September 08,2011, LexisNexis #1011-004