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El-Amin v. Stockton, Whatley, Davin & Co. (In re El-Amin)
Citations: 93 B.R. 279; 1988 Bankr. LEXIS 1907Docket: Bankruptcy No. 87-1161-BKC-3P7; Adv. No. 88-126
Court: United States Bankruptcy Court, M.D. Florida; November 18, 1988; Us Bankruptcy; United States Bankruptcy Court
The court granted the defendant, BancBoston Mortgage Corporation (BBMC), a motion to dismiss the complaint filed by the plaintiff, Ruben L.R. El-Amin, with prejudice. Key findings include: 1. The plaintiff filed for Chapter 7 bankruptcy on July 27, 1987, listing a property located at 2439 Horne Street, Jacksonville, Florida (the "Property") as an asset and exempt property. BBMC was identified as a creditor with a security interest in the Property. 2. BBMC held a properly perfected mortgage on the Property prior to the bankruptcy, as evidenced by a Summary Final Judgment of Foreclosure. 3. The plaintiff received a discharge from bankruptcy on November 16, 1987. Subsequently, on March 1, 1988, BBMC obtained a judgment in state court to foreclose on the Property and took title. 4. The plaintiff argued that because the Property was listed as exempt, BBMC was required to contest this exemption to retain its lien, claiming that the lien was extinguished upon his discharge. 5. The court determined that under 11 U.S.C. § 506(d)(2), a secured claim can survive bankruptcy proceedings without the creditor needing to contest exemptions. Secured creditors can enforce their liens in state court after bankruptcy is complete, irrespective of exemption objections. 6. BBMC was not legally obligated to contest the exemption to maintain its lien rights. The court found that BBMC acted properly in foreclosing on the mortgage after the plaintiff's discharge, as the discharge only eliminated personal liability, leaving the lien intact. The order concluded with the dismissal of the plaintiff's complaint with prejudice, directing each party to bear its own costs.