IN RE MADRID

BAP No. NV-81-1106-HVE, Bankruptcy No. 81-00038.

21 B.R. 424 (1982)

In re Judith Lynne MADRID, Debtor. LAWYERS TITLE INSURANCE CORP., and Donald Turney, Appellants, v. Judith Lynn MADRID, Appellee.

United States Bankruptcy Appellate Panels of the Ninth Circuit.

Decided June 22, 1982.


Attorney(s) appearing for the Case

Timothy J. Henderson, Henderson, Nelson & Moschetti, Reno, Nev., for appellants.

Alan R. Smith, Miller & Daar, Reno, Nev., for appellee.

Before HUGHES, VOLINN and ELLIOTT, Bankruptcy Judges.


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...

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