Covey v. United Federal Savings & Loan Ass'n (In Re Owen)

OPINION AND ORDER

WILLIAM V. ALTENBERGER, Bankruptcy Judge.

This is an action to recover a preference of $5,454.90. The debtor and his then wife held title in joint tenancy and resided in certain real estate. The debtor’s wife died, and the debtor continued to reside in the real estate. Subsequently, the defendant took judgment against the debtor and on December 4, 1986, filed a memorandum of judgment with the Recorder of Deeds. On March 7, 1987, the debtor sold the real estate for $11,000.00, and from the proceeds paid the defendant $6,454.90 in exchange for a release of the judgment lien. On…