Hercules Machine Co. v. Walker (In re Hercules Machine Co.)

MEMORANDUM

RALPH H. KELLEY, Bankruptcy Judge.

The debtor-in-possession brought this action to avoid the defendant’s lien on real property and security interest in personal property. The dispute as to the security interest in personal property has been resolved. The question for the court to decide is whether the defendant has a perfected lien on the real property.

The defendant and his wife sold the real property to N.G.A. Welding Co., Inc., which was the predecessor to the debtor-in-possession. The deed provides that payment of the purchase price “is secured by a vendor’s lien which is hereby…