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

Bankr. No.: 
Adv. No.: 
Date of Decision: 
March 27, 2007
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?
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: