Keller v. Bryant (In Re Bryant)

Memorandum Decision

ROBERT C. JONES, Bankruptcy Judge.

Introduction

When the debtor filed his Chapter 11 petition on 21 July 1982 the estate’s principal asset was a parcel of real property located at Lake Tahoe, Nevada, which he held in joint tenancy with Edith and Charles Lyons (mother and son, respectively). This property was subject to a deed of trust securing a $200,000.00 note dated 23 December 1980. This note evidenced a loan made to the debtor and the Lyonses for the purpose of constructing improvements on the property. On 29 December 1982 James H. Keller, fdba Truckee Meadows Mortgage…