In Re Frank Kunik Farms, Inc.

MEMORANDUM OPINION REGARDING SECOND NATIONAL BANK’S MOTION FOR RELIEF FROM STAY AND OBJECTION TO CONFIRMATION OF PLAN

ARTHUR J. SPECTOR, Bankruptcy Judge.

The underlying question in these contested matters is whether, at the time the debtor filed its Chapter 11 petition for relief, it owned any interest in the lands in question. The parties have stipulated to the facts, so these contested matters present solely issues of law.

On February 11, 1977, Melvin R. Price sold 345.2 acres of vacant farmland to Frank Kunik Farms, Inc., a Michigan corporation (“the debtor”), on a land contract. The…