In Re Elkowni

ORDER

ARTHUR B. BRISKMAN, Bankruptcy Judge.

This matter came on Debtor’s Objection to Claim No. 9 of Pulte Home Corporation (Doc. 59) and Response to Objection to Claim No. 9 of Pulte Home Corporation (Doc. 60). The following Findings of Fact and Conclusions of Law are made after reviewing the evidence.

FINDINGS OF FACT

Pulte Home Corporation (“Pulte”) sold an unimproved real property (“Lot”) to Debtor on March 29, 2001 for $665,000. Bank First has a mortgage on the Lot in the principal amount of $557,935.11. Pulte reserved an option to repurchase the Lot in the event Debtor did not begin…