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IN RE VALDEZ

No. 05-34490.

338 B.R. 97 (2006)

In re Benny Paul VALDEZ and Patricia Ann Valdez, Debtors.

United States Bankruptcy Court, N.D. California.

March 8, 2006.

Attorney(s) appearing for the Case

Cathleen Cooper Moran, Moran Law Group, Mountain View, CA, for Debtors.

Jenifer K. Gardella, Law Offices of Gardella and Gardella, Redwood City, CA, for Creditor.

OPINION

THOMAS E. CARLSON, Bankruptcy Judge.

At issue in this proceeding is how to measure the value of a secured claim against Debtors' mobilehome. Both parties agree that the value of the property on site in the mobilehome park is much greater than the value of the "box" alone. Debtors gave the creditor a security interest in the mobilehome itself, but not in any leasehold in the mobilehome park. I determine that the in-place value controls. Under California...

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