Gross v. Petty (In Re Petty)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
ASHLAND, Bankruptcy Judge:
Harvey Petty, Sr. and Betty Petty appeal the bankruptcy court’s grant of summary judgment allowing the trustee to recover property transferred from the debtor to the Pettys as a preference under 11 U.S.C. § 547.
FACTS
In 1976 the debtor Harvey Petty, Jr. entered into a land sale contract to purchase an undeveloped five acre parcel in Marion County, Oregon for $15,000. On March 31, 1982 the debtor sold the Marion County property to Beaman for $33,000. The contract provided that Beaman would put $4,000 down, make monthly payments of $250, and pay the balance in a…
2Cases cited16 opinions
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