Lucero v. Security Industrial Bank

MEMORANDUM OPINION

JOHN P. MOORE, Bankruptcy Judge.

THE MATTER before the Court arises upon the Plaintiffs’ complaint, filed pursuant to 11 U.S.C. § 522(f)(1) (1978), to avoid the Defendant’s judicial lien on the principal residence of the Plaintiffs. At issue here is the constitutionality of that section of the Bankruptcy Code as applied to the Defendant’s judicial lien which arose on February 7, 1979, upon the recording of a transcript of judgment pursuant to Colorado law. 1 It is asserted that the avoidance of the Defendant’s lien would result in the deprivation of a substantive property…