Lane v. Small Business Administration (In Re Lane)

MEMORANDUM OF OPINION

JOHN C. AKARD, Bankruptcy Judge.

Jesse L. Lane and Carolyn H. Lane (Debtors) filed this Adversary Proceeding to determine the validity of liens held by the United States Small Business Administration (SBA) on approximately 158 acres of land in Parmer County, Texas (Subject Property). The Debtors assert that the Subject Property is their rural homestead and that the SBA’s liens are therefore not valid.

FACTS

The Debtors acquired the Subject Property in January, 1975. Since that time it has constituted the only real estate owned by the Debtors. They have continuously farmed…