McCANNON V. MARSTON
679 F.2d 13 (1982)
NATURE OF THE CASE: McCannon (P), property owner, appealed a judgment, which denied her
action seeking relief from an automatic stay, and specific performance of an agreement to
purchase her apartment from the debtor.
FACTS: On March 19, 1973, P entered into an agreement with The Drake Hotel (the debtor)
for the sale of a condominium apartment and of a certain percentage of the common areas in
that hotel. P paid a deposit of $500 toward the purchase price of $17,988. She began
residence in the apartment in April of 1975 and resides there presently. The bankruptcy
court found that settlement on the property has never taken place. P never recorded her
agreement for sale. Debtor filed Chapter 11. P filed a complaint seeking relief from the
automatic stay and requesting specific performance of the agreement to purchase the
apartment. The court held that Marston (D), trustee, as a bona fide purchaser without regard
to any knowledge on his part, may avoid P's interest in the property pursuant to
Pennsylvania law and to Section 544(a)(3) of the Code. The district court affirmed. P
appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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