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In re Donald John Tunnissen and Charlene Joan Tunnissen

Bankr. No.: 
95-30001
Chapter: 
12
Date of Decision: 
September 27, 2000
Issue: 
Whether the debtors appropriately treated FSA-Ag Credit's matured shared appreciation agreement in their motion to modify their confirmed plan?
Ruling: 
The debtors' motion to modify did not appropriately treat the matured shared appreciation agreement. The original confirmed plan did not estimate what the value of FSA's claim would be upon maturity of the shared appreciation agreement, although the agreement would mature during the plan term. Instead, the confirmed plan contemplated a modification of the plan once the agreement matured. Now that the agreement has matured, the modification must provide plan treatment that recognizes the matured agreement as a separate secured claim held by FSA.
Full Bankruptcy Court Decision: