IN RE MADRID

No. 82-4433.

725 F.2d 1197 (1984)

In re Judith Lynne MADRID, Debtor. Judith Lynne MADRID, Appellant, v. LAWYERS TITLE INSURANCE CORP., and Donald Turney, Appellees.

United States Court of Appeals, Ninth Circuit.

Decided February 13, 1984.


Attorney(s) appearing for the Case

Victor Perri, Vernon E. Leverty, Alan R. Smith, Miller & Daar, Reno, Nev., for appellant.

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

Leon L. Vickman, Encino, Cal., for Mortgage Brokers Institute.

Peter G. Clark, Oakland, Cal., for Richard O. Burke.

Noel W. Nellis, Morrison & Foerster, San Francisco, Cal., for American College of Real Estate Lawyers.

Before GOODWIN, TANG and FARRIS, Circuit Judges.


TANG, Circuit Judge:

The sole question before us is whether the nonjudicial foreclosure sale of appellant's home may be set aside under 11 U.S.C. § 548(a) of the Bankruptcy Code. The bankruptcy court, 10 B.R. 796, set aside the sale, finding that a "transfer" occurred at the foreclosure and that less than reasonably equivalent value was paid to the debtor. The Bankruptcy Appellate Panel, 21 B.R. 424, reversed, holding that reasonably...

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