Download Free Print-Only PDF OR Purchase Interactive PDF Version of this Form
Order To Value Collateral Order To Avoid Lien Form. This is a Nevada form and can be use in Bankruptcy Court Federal.
Loading PDF...
Tags: Order To Value Collateral Order To Avoid Lien, Nevada Federal, Bankruptcy Court
1
2
3
4
5
6
UNITED STATES BANKRUPTCY COURT
7
FOR THE DISTRICT OF NEVADA
8
9
10
11
In re:
)
)
)
)
Debtor(s).
)
__________________________________________)
BK-SChapter 13
Date:
Time:
12
13
14
ORDER TO VALUE COLLATERAL; ORDER TO AVOID LIEN
THIS MATTER having come before the Court for a hearing on
, on
15
Debtor's MOTION TO VALUE COLLATERAL; MOTION TO AVOID LIEN, and based upon
16
the papers and pleadings on file herein, and good cause appearing; the Court finds as follows:
17
1.
The Debtor's principal residence located at
18
(the "Subject Property") is valued at
19
20
as of the date of Debtor's Chapter 13 Petition.
2.
The Subject Property is collateral for a senior secured claim of
21
(“Senior Lienholder”).
22
23
[Check only one box, and fill in blanks]
G
Senior Lienholder has filed a Proof of Claim
related to
24
such claim, and such Proof of Claim claims a debt of
25
Lienholder’s Proof of Claim indicates that Senior Lienholder has assigned
26
to this claim.
27
28
. Senior
[or]
G
Senior Lienholder has not filed a Proof of Claim related to its claim, but
American LegalNet, Inc.
www.FormsWorkFlow.com
1
has assigned
2
the amount of Senior Lienholder’s claims as
3
3.
4
to this claim. The Debtor’s schedules list
.
The Subject Property is also collateral for a junior secured claim of
(“Junior Lienholder”).
5
[Check only one box, and fill in blanks]
G
6
Junior Lienholder has filed a Proof of Claim
related to such
7
claim, and such Proof of Claim claims a debt of
8
Lienholder’s Proof of Claim indicates that Junior Lienholder has assigned
9
. Junior
to this claim.
10
[or]
G
11
Junior Lienholder has not filed a Proof of Claim related to its claim, but
12
has assigned
13
the amount of Junior Lienholder’s claims as
14
15
16
4.
to this claim. The Debtor’s schedules list
.
Given the above, Junior Lienholder’s interest in the Debtor’s interest in the
Subject Property has no value.
THEREFORE, IT IS HEREBY ORDERED THAT, pursuant to Zimmer v. PSB Lending
17
Corp. (In re Zimmer), 313 F.3d 1220 (9th Cir. 2002), and 11 U.S.C. §§ 506(a) and 506(d), Junior
18
Lienholder’s claim is unsecured, and shall be treated as unsecured for all purposes in this case,
19
including the manner in which such claim is treated and paid in Debtor’s chapter 13 plan; and
20
IT IS FURTHER ORDERED THAT, should Debtor receive a discharge in this case,
21
Junior Lienholder shall as soon as practicable thereafter take all necessary and appropriate steps
22
to remove its lien of record, and to ensure that Debtor’s title to the Subject Property is clear of
23
any cloud on title related to Junior Lienholder’s claim. This court hereby reserves jurisdiction
24
with respect to any dispute over the actions necessary to comply with this paragraph; and
25
26
27
28
IT IS FURTHER ORDERED THAT, should this case be converted to one under another
chapter, 11 U.S.C. § 348(f) shall govern the continued validity of this order; and
IT IS FURTHER ORDERED THAT, should this case be dismissed, 11 U.S.C. §
349(b)(1)-(3) shall govern the continuing validity of this order; and
American LegalNet, Inc.
www.FormsWorkFlow.com
1
IT IS FURTHER ORDERED THAT nothing in this order shall be deemed to be an
2
allowance or disallowance of any claim of Senior Lienholder or Junior Lienholder, and any party
3
in interest, including the Debtor or the Trustee, may hereafter object to either claim on any
4
ground recognized by the Bankruptcy Code.
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
###
American LegalNet, Inc.
www.FormsWorkFlow.com
