General Motors Acceptance Corp. v. Sawyer (In Re Sawyer)

MEMORANDUM DECISION

M. S. YOUNG, Bankruptcy Judge.

The plaintiff General Motors Acceptance Corporation (hereinafter referred to as GMAC) seeks relief from the stay provided by 11 U.S.C. § 362 and turnover of a vehicle by defendants. The facts are not in dispute and the matter was submitted on the record and oral argument.

On October 6,1981, the defendant debtors purchased a 1981 Honda Accord and granted the seller a security interest in the vehicle to secure payment of the unpaid balance of its purchase price. The contract and security interest was assigned by the seller to plaintiff. On October…