Fletcher Oil Co. v. Elm Lawn Cemetery Co. (In Re Fletcher Oil Co.)

MEMORANDUM OPINION ON CROSS-MOTIONS FOR SUMMARY JUDGMENT

ARTHUR J. SPECTOR, Bankruptcy Judge.

Facts

The property which is the subject of this dispute was leased by Fletcher Oil Co., Inc., 1 the owner of record, to Second National Bank (“SNB”) on August 5, 1977. The lease was for a 15-year term and included options for renewal. SNB built and occupies a branch office on the property. On August 2, 1982, the Debtor sold the property by land contract to the Elm Lawn Cemetery Perpetual Care Fund (“Fund”). The Fund had been established by the Elm Lawn Cemetery Company (“Cemetery Company”). Frederick B.…