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In re Hafen

In re Hafen

United States Bankruptcy Court for the District of Utah

December 7, 2020, Decided

Bankruptcy Number: 04-25018, Chapter 7

Opinion

 [*530]  MEMORANDUM DECISION REGARDING THE TRUSTEE'S MOTION TO SELL PROPERTY

BACKGROUND AND FACTS:

This is a Memorandum Decision memorializing what was read into the record on Monday November 23, 2020 at 10:00 AM. Accordingly, this Memorandum Decision supports the order issued on the same date at Docket entry 114, the [**2]  Court specifically having reserved the right to issue this Memorandum Decision. This matter is before the court on the Trustee's Motion to Sell Property ("The Motion").1 The Motion seeks to sell any interests that the estate may have in certain property which is described in The Motion, as: (1) the Debtor's 10 percent ownership interest in DANIEL ROY HAFEN, LTD, including any property acquired as a result of that ownership interest; (2) the Debtor's 10 percent ownership interest in ACOM, LLC, including any property acquired as a result of that membership interest; (3) the Debtor's beneficial ownership interest in the C.A.R. TRUST and sometimes referred to as the C.A.R. A Trust; (4) the Debtor's claim in water rights 71-298, currently in the name of Daniel R. Hafen and Alta Mae Hafen (both deceased), and; (5) the Debtor's claim in DANIEL ROY HAFEN, LTD's shares of the Pinto Irrigation Company, a Utah corporation. The Response by the Trustee to Debtor's objection to the sale at docket 107 clarifies that item (5) is actually the interests in any property received as a result of the Debtor's ownership interest in Daniel Roy Hafen, LTD and is accordingly duplicative of item (1). In addition, [**3]  the Trustee seeks to sell his avoidance and fraudulent transfer  [*531]  claims pertaining to the above property under 11 U.S.C. §§ 544, 547, 548, and 549.2 All of this collectively will hereafter be referred to as the alleged or simply the "Estate Property." The total purchase price is $15,277.00 in cash.

First, the Court would like to summarize the posture of this matter and how it came to be here today. The Debtor, Mr. Roy Nielson Hafen, filed for chapter 7 bankruptcy relief in 2004 and listed unsecured debts of $5M, assets of $11,000, and Trustee returned a gross amount of $5,000 to creditors.3 The case was closed on May 11, 2005. The case was reopened in 2018.4

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625 B.R. 529 *; 2020 Bankr. LEXIS 3424 **; 2020 WL 7345750

In re: Roy Nielsen Hafen, Debtor.

CORE TERMS

rights, restrictions, state case, economic right, partnership interest, state court, parties, entity, conveyed, notice, managerial, ownership, estate property, limited partner, quitclaim deed, water rights, transferred, conveyance, auction, powers

Real Property Law, Deeds, Types of Deeds, Quit Claim Deeds, Validity Requirements, Execution Formalities, Bankruptcy Law, Administrative Powers, Estate Property Lease, Sale & Use, Sale of Estate Property, Sales Free of Interest, Voluntary Cases, Filing Requirements, Filing of Petition, Business & Corporate Law, Unincorporated Associations, Management Duties & Liabilities, Causes of Action, Partnership Liabilities, Governments, Legislation, Interpretation, Types of Transactions, Transfers of Stock, General Partnerships, Formation, Elements, Bankruptcy, Estate Property, Contents of Estate