You are here

Trustee John S. Lovald v. GEMB Lending Inc. (In re Terry Lee Lockhart-Johnson)

Bankr. No.: 
05-30151
Adv. No.: 
06-3001
Chapter: 
7
Date of Decision: 
March 27, 2007
Issue: 
Whether summary judgment should be entered regarding a creditor‛s secured interest in a boat motor on the petition date where the creditor‛s security interest was perfected earlier in Minnesota but where Debtor moved to South Dakota before he filed bankruptcy?
Ruling: 
Whether the creditor‛s security interest in the boat motor was still perfected under M.S.A. § 336.9-316 when Debtor filed bankruptcy depended on the date Debtor moved to South Dakota. That date was not of record, so summary judgment could not be entered. A trial on that fact question only will be held if the parties are unable to stipulate to the date of the move.
Full Bankruptcy Court Decision: