Benjamin Franklin Savings & Loan Ass'n v. New Concept Realty & Development, Inc.

New Concept Realty & Development, Inc. (“New Concept”), filed for relief under Chapter 7 of the Bankruptcy Code. Benjamin Franklin Savings & Loan (“Benjamin Franklin”), filed a complaint in the bankruptcy court seeking to foreclose a deed of trust on a parcel of Idaho real property owned by New Concept. New Concept’s predecessors in interest had executed the deed of trust in favor of Benjamin Franklin’s predecessor in interest. It was recorded in the Bonneville County recorder’s office on September 19, 1979.

The trustee’s answer alleged that the deed of trust was void because its certificate…