Western Mercantile Agency, Inc. v. Lansdowne (In re Lessley)

*406OPINION

MICHAEL R. HOGAN, Bankruptcy Judge.

Western Mercantile, plaintiff, and Odell and Virginia Lessley (Lessleys), defendants, entered into an agreement termed “Assignment of Vendees’ Interest” on October 11, 1978, a copy of which is attached to Less-leys’ answer. The agreement provides that defendants assign all of their purchasers’ interest in a certain land sale contract to plaintiff to secure a $12,849.11 debt owed to plaintiff.

In this action, plaintiff seeks release from the stay provisions of the Bankruptcy Code, 11 U.S.C. § 362, so that it may proceed to foreclose its interest in the…