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IN RE TAYLOR

Bankruptcy No. 83-5027, Adv. No. 84-0054.

43 B.R. 524 (1984)

In re James Floyd TAYLOR f/d/b/a Lance Sportswear, Debtor. J. William WHITE, Trustee, v. James Floyd TAYLOR, individually and fdba Lance Sportswear; William John Tolley; Jessie Heppinstall Tolley; Real Estate Financing, Inc., a corporation; Metropolitan Life Insurance Co., a corporation and Wayne Smith, Defendants.

United States Bankruptcy Court, N.D. Alabama, W.D.

August 28, 1984.

Attorney(s) appearing for the Case

J. William White, Scottsboro, Ala., trustee.

Walter P. Crownover, Tuscaloosa, Ala., for debtor.

GEORGE S. WRIGHT, Bankruptcy Judge.

MEMORANDUM OF DECISION

This matter came to trial before this Court on the Trustee's complaint to have an unrecorded transfer of real estate declared null and void pursuant to 11 U.S.C. Sect. 544(a). This case illustrates the often unforseen difficulties which may be encountered in "creative financing" schemes. The issue to be decided is whether the possession of the disputed property by the transferees is sufficient notice...

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