In re Smith

MEMORANDUM OPINION

ROBERT L. JONES, Bankruptcy Judge.

In the second year of their chapter 12 bankruptcy plan, the debtors, David and Patricia Smith, sold-off 396.47 acres of a 458-acre tract of land for $295,576. The sales price exceeded by more than $100,000 the value established for the entire 458-acre tract at the time the Smiths’ chapter 12 plan was approved by the Court. After paying the costs of the sale, claims secured by the land, taxes incurred as a result of the sale, and certain other proper expenses, the Smiths were left with $35,341.59 (and, presumably, the balance of the 458-acre…