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IN RE GILLIE

Bankruptcy No. 588-50026-7, Adv. No. 588-5025.

96 B.R. 689 (1989)

In re Edmund Roy GILLIE and wife, Doris Lynette Gillie, Debtors. Edmund Roy GILLIE and wife, Doris Lynette Gillie, Plaintiffs, v. FIRST STATE BANK OF MORTON, TEXAS, Defendant.

United States Bankruptcy Court, N.D. Texas, Lubbock Division.

February 17, 1989.

Attorney(s) appearing for the Case

George H. Nelson, Law Offices of George H. Nelson, P.C., Lubbock, Tex., for debtors.

Louis M. Ratliff, Jr., Kirby, Ratliff & Greak, Inc., Littlefield, Tex., for First State Bank of Morton.

MEMORANDUM OF OPINION ON PURCHASE MONEY LIEN

JOHN C. AKARD, Bankruptcy Judge.

Issue

Does refinancing a purchase money loan by issuing a new loan destroy the purchase money nature of the original security interest for purposes of Bankruptcy Code § 522(f)?1

Facts

First State Bank, Morton (Bank), advanced cash to Mrs. Gillie to purchase household...

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