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IN RE PROFESSIONAL INV. PROPERTIES OF AMERICA, INC.

Bankruptcy No. 86-32060, Adv. No. 87-32277.

157 B.R. 166 (1993)

In re PROFESSIONAL INVESTMENT PROPERTIES OF AMERICA, INC., Debtor. Robert and Grace BRIGGS, Plaintiffs, v. Roy W. KENT, Trustee, and the Estate of Professional Investment Properties of America, Inc., Defendants.

United States Bankruptcy Court, W.D. Washington.

June 30, 1993.

Attorney(s) appearing for the Case

Michael D. Hitt, Gordon, Thomas, Honeywell, Malanca, Peterson & Daheim, Tacoma, WA, for trustee.

Shawn B. Briggs, Briggs & Briggs, Tacoma, WA, for plaintiffs.

DECISION AND ORDER ON SUMMARY JUDGMENT

PHILIP H. BRANDT, Bankruptcy Judge.

I. HISTORY

In October of 1985 the Defendant/Debtor, Professional Investment Properties of America, Inc. ("PIP") borrowed $50,000 from Plaintiffs Robert and Grace Briggs, giving a note and deed of trust on real property. No one recorded the deed of trust. PIP had financial problems, and in May of 1986 the Briggs filed an Involuntary Petition together with a Motion for Appointment...

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