In re Poff (08-53493, Adv. no. 09-05052)
Rescission of an erroneously filed cancellation of security deed does not effect a transfer of an interest of debtor in property, and therefore is not a preference. Cancellation of a security deed does not, without payment of the underlying debt, remove the lien. Consequently, rescission of the cancellation does not serve to reinstate the lien.
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Thursday, December 16, 2010