McElwee v. Adams County National Bank (In re McElwee)

OPINION1

ROBERT N. OPEL, II, Bankruptcy Judge.

The Chapter 12 Debtors/Movants filed a Motion under F.R.B.P. 3012 to value their secured creditors’ real estate collateral. This Opinion determines the value of the Debtors’ three pieces of real estate. This will allow determination of the secured status of the respective claims against the real properties.

I. Jurisdiction

This Court has jurisdiction over this matter pursuant to 28 U.S.C. § 1334 and § 157(b)(2). This is a core proceeding under 28 U.S.C. § 157(b)(2)(A).

II. Facts

Thomas H. McElwee, Jr. and Becky S. McElwee, his wife, family farmers,…