Yparrea v. Roswell Production Credit Ass'n (In Re Yparrea)

MEMORANDUM OPINION

ROBERT A. JOHNSON, Bankruptcy Judge.

This cause came on to be heard on November 13, 1980, in the United States District Courthouse, Roswell, New Mexico, on debtors-plaintiffs’ complaint to avoid defendant’s security interest in debtors’ farm equipment. Debtors rely on 11 U.S.C. § 522(f)(2)(B) (1978) to seek to avoid the lien which secures equipment allegedly exempt and within the statutory designation of “implements” or “tools of the trade.” Defendant opposes the lien avoidance because 1) debtors have elected the state exemption provisions which require an exemption waiver on…