Pees v. DAN Joint Venture II (In Re Claar)

MEMORANDUM OPINION ON MOTION FOR SUMMARY JUDGMENT

JOHN E. HOFFMAN, Bankruptcy Judge.

Frank M. Pees, the standing Chapter 13 Trustee and the plaintiff in this adversary proceeding (“Pees” or “Plaintiff’), has filed a complaint that seeks to strip off what he alleges is a wholly unsecured second mortgage on residential real estate owned by the Chapter 13 debtors, Walter L. Claar and Patricia L. Claar (“Debtors”). The real estate is located at 179 South Terrace Avenue, Columbus, Ohio (“Property”). The second mortgage on the Property is held by the defendant, DAN Joint Venture II (“Defendant” or…