Lawyers Title Insurance Corp. v. Madrid (In Re Madrid)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
HUGHES, Bankruptcy Judge:
The question presented by this appeal is whether a non-judicial foreclosure of a deed of trust can be set aside as a fraudulent conveyance under 11 U.S.C. § 548 if the purchase price is significantly less than fair market value. We hold that the consideration received at a non-collusive, regularly conducted public sale satisfies the “reasonably equivalent value” requirement of 11 U.S.C. § 548(a)(2) and reverse the trial court’s judgment avoiding the sale, 10 B.R. 795.
I
Judith Madrid acquired a home near Lake Tahoe in September 1979 for $290,000, giving the…
2Cases cited6 opinions
- J. W. Durrett, Sr. v. The Washington National Insurance Co.Court of Appeals for the Fifth Circuit · 1980
- Golden v. TomiyasuNevada Supreme Court · 1963
- Harold C. Abramson, Trustee v. Lakewood Bank and Trust CompanyCourt of Appeals for the Fifth Circuit · 1981
- Roscoe T. Schafer, Trustee for the Estate of Gibson Products of Durango, Inc., a Colorado Corporation, a Bankrupt v. Charles HammondCourt of Appeals for the Tenth Circuit · 1972
- Oller v. Sonoma County Land Title Co.California Court of Appeal · 1955
1 more not listed; retrieve them via the Exa API.
3Cited by93 opinions
- BFP v. Resolution Trust CorporationSupreme Court of the United States · 1994
- In the Matter of Winshall Settlor's Trust, Julie Winshall, Trustee, Debtor-AppellantCourt of Appeals for the Sixth Circuit · 1985
- In Re Judith Lynne Madrid, Debtor. Judith Lynne Madrid v. Lawyers Title Insurance Corp., and Donald TurneyCourt of Appeals for the Ninth Circuit · 1984
- In the Matter of Donald Eugene Bundles, Debtor-Appellant. In Re Donald Eugene Bundles v. William J. Baker, Indiana National Bank and James C. WellsCourt of Appeals for the Seventh Circuit · 1988
- Gillman v. Preston Family Investment Co. (In Re Richardson)United States Bankruptcy Court, D. Utah · 1982
88 more not listed; retrieve them via the Exa API.