Confirm favorite deletion?
Property Keyed to Saxer
In Re Smith
Citation:288 B.R. 675 (W.D. N.Y., 2003).
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
- Case Key Terms, Acts, Doctrines, etc.: A case specific Legal Term Dictionary.
- Case Doctrines, Acts, Statutes, Amendments and Treatises: Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
- Brief Facts: A Synopsis of the Facts of the case.
- Rule of Law: Identifies the Legal Principle the Court used in deciding the case.
- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
The Debtor, Scott Smith, is the owner of a residence with an asserted fair market value of $65,606. The Debtor also filed for chapter 13 bankruptcy. The Debtor purchased a home from Robert and Mary Jane Zak. The purchase was financed through two mortgages. The larger of the mortgages was given to institutional lender, PCFS Mortgage Resources, to secure a note in the amount of $68,000 and recorded on January 12, 1999. At the date of filing for his bankruptcy, the amount due on this note included a principal balance of $67,225.01 and interest of more than $4,000. The smaller of the mortgages was given to the Zaks as a purchase-money mortgage to secure a note in the amount of $16,217. As prior owners of the property, the Zaks accepted the note as partial consideration for the transfer of the title. The Zaks recorded their mortgage on January 22, 1999. The Zaks’ mortgage has no provision for subordination to the lien of PCFS and the Debtor offered no proof otherwise. At the date of the filing of bankruptcy, the Debtor owed roughly $15,000 to the Zaks on their note.
As a debtor in chapter 13 bankruptcy, the Debtor filed a motion to avoid the purchase-money mortgage of the Zaks. The Debtor argues that the mortgage of PCFS was recorded first and thus should constitute a prior lien on the property. Since this mortgage secures an obligation that is greater than the fair market value of the property, the Debtor argues that his chapter 13 bankruptcy plan can avoid the later recorded purchase-money mortgage of the Zaks.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
- Holding: Shares the Court's answer to the legal questions raised in the issue.
- Concurring / Dissenting Opinions: Includes valuable concurring or dissenting opinions and their key points.
- Reasoning and Analysis: Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
- Policy: Identifies the Policy if any that has been established by the case.
- Court Direction: Shares where the Court went from here for this case.