Jay v. Nesco Acceptance Corp. (In Re Jay)

MEMORANDUM OPINION

ROBERT L. JONES, Bankruptcy Judge.

The claims raised by this adversary proceeding were, at the parties’ request, bifurcated for trial. The court first held a hearing on July 23, 2003, and heard evidence on the claim by James Albert Jay and Ann C. Jay, the plaintiffs, seeking cancellation of the deed purportedly conveying a .85-acre tract of land, which they claimed as their business homestead, to Defendant Nesco Acceptance Corporation. The Jays argued that the transaction was a pretended sale of their business homestead in violation of the Texas Constitution. The court issued…