Drown v. Argent Mortgage Co. (In Re Bunn)

MEMORANDUM OPINION ON PLAINTIFF’S CROSS-MOTION FOR SUMMARY JUDGMENT AND MOTION OF DEFENDANT ARGENT MORTGAGE COMPANY, LLC, FOR SUMMARY JUDGMENT

JOHN E. HOFFMAN, JR., Bankruptcy Judge.

I. Introduction

The issue presented by the parties’ cross-motions for summary judgment is whether a bankruptcy trustee in his/her role as a hypothetical, good-faith purchaser for value may avoid a consensual mortgage between a debtor and the mortgagee because the mortgage lacks a legal description of the real property. Before the Court are the following: (1) the motion for summary judgment (“Motion”) (Doc. 17) filed…