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IN RE BRITTON

Bankruptcy No. 83-00208, Adv. No. 83-0124.

43 B.R. 605 (1984)

In re Charles H. BRITTON, Debtor. Park CHAPMAN and Eva Chapman, Plaintiff, v. Charles H. BRITTON, Defendant.

United States Bankruptcy Court, E.D. Michigan, S.D.

October 17, 1984.

Attorney(s) appearing for the Case

Geoffrey L. Neithercut, Flint, Mich., for Genesee Merchants Bank & Trust Co.

Richard Goldstein, Flint, Mich., for conservator.

Larry Sharp, Farmington Hills, Mich., for debtor/defendant.

Gary J. Piggott, Flushing, Mich., for plaintiff.

MEMORANDUM OPINION

ARTHUR J. SPECTOR, Bankruptcy Judge.

On August 31, 1981 the Plaintiffs, Park and Eva Chapman, executed a land contract with the Defendant debtor, Charles H. Britton, by which the debtor purchased a 40 acre horse ranch located in Lennon, Michigan. The total purchase price was $145,000; Britton paid a $20,000 cash down payment leaving a balance of $125,000 on the contract. Interest on the contract is 8% annually while the vendee is not in...

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