Winshall v. Mazzetti (In Re Mazzetti)

MEMORANDUM OPINION

GEORGE BRODY, Bankruptcy Judge.

Ardino and Phyllis Mazzetti (parents) purchased a residence in Berkley, Michigan in November of 1975, for $26,000.00. The Mazzettis made a down payment of approximately $6,000, and financed the remainder of the purchase price by obtaining a mort gage from the Standard Federal Savings and Loan Association. In November of 1978, the Mazzettis deeded this property to their son and his wife, Paul and Kathleen Mazzetti (debtors) for use as their residence. The deed was promptly recorded by the debtors. In consideration for the transfer, the debtors…