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IN RE TINSLEY

Bankruptcy No. 396-35101-SAF-7.

217 B.R. 188 (1997)

In re Talmadge Wayne TINSLEY, Debtor.

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

April 17, 1997.

Attorney(s) appearing for the Case

Troy D. Phillips, Glast, Phillips & Murray, Dallas, TX, for Debtor.

Ginger A. Tye, Bellinger & DeWolf, Dallas, TX, for PNL Texas, L.P.

Robert R. Bell, Mullin, Hoard & Brown, LLP, Amarillo, TX, for Caprock Investment Corp.

Christopher J. Moser, Quilling, Sellinger, et al., Dallas, TX, for Robert Newhouse, Trustee.

Ramona Notinger, Dept. of Justice-Tax Division, Dallas, TX, for I.R.S.

Mary A. Daffin, Barrett, Burke, Wilson, et al., Houston, TX, for Guaranty Federal Bank.

MEMORANDUM OPINION AND ORDER

STEVEN A. FELSENTHAL, Bankruptcy Judge.

Talmadge Wayne Tinsley, the Chapter 7 debtor, filed a designation of homestead and a motion for valuation of the non-exempt acreage. PNL Texas, L.P., and Caprock Investment Corp., holders of judgment liens, object to both the designation and the valuation. Robert Newhouse, the Chapter 7 trustee, observes that the value of the non-exempt acreage is less than the debt secured by judgment...

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