Motion To Avoid Lien {N-1}

VTB Form N1 04/2018 See Vt. LBR 4003-2(a) UNITED STATES BANKRUPTCY COURT DISTRICT OF VERMONT In re: , Chapter Debtor(s). Case # DEBTOR222S MOTION TO AVOID LIEN PURSUANT TO 11 U.S.C. 247 522(f)(2)* NOW COMES [name of debtor] by and through attorney, , pursuant to 11 U.S.C. 247 522(f) and the Federal Rules of Bankruptcy Procedure 4003(d) and 9014, to request this Court enter an order avoiding the [judicial lien(s) and/or nonpossessory, non-purchase-money security interest] held by [name of creditor] (the 223Respondent224) on [description of property] (the 223Property224). In support of this Motion, the debtor states the following. 1. This Court has jurisdiction in this matter pursuant to 28 U.S.C. 247 1334(a). This matter is a core proceeding as described by 28 U.S.C. 247 157(b)(2)(K). 2. The debtor filed a voluntary petition under chapter of the Bankruptcy Code on [date]. 3. The debtor is entitled to an exemption in the Property in the amount of $ , pursuant to [cite legal authority (e.g., 27 V.S.A. 247 101)], and has claimed that exemption on the Schedule C filed on [date] (doc. #). 4. The Property has a fair market value of $ . This valuation is based upon [describe basis for valuation (e.g. grand list, real estate appraisal, other source)]. 5. The Property is subject to the following mortgages, judicial liens, and/or nonpossessory, non-purchase-money security interests: [Note: Include the Respondent222s lien/interest in chart.] Type of lien/interest Holder of lien/interest Date lien/interest originated/arose Original amount of lien/interest Outstanding balance of lien/interest * This Form is to be used ONLY in chapter 7 or 12 cases. Motions to avoid a lien in a chapter 13 case must be made as part of the chapter 13 plan, using Official Form 113. See Vt. LBR 3015-1; 4003-2(b). American LegalNet, Inc. www.FormsWorkFlow.com VTB Form N1 04/2018 See Vt. LBR 4003-2(a) 6. Respondent222s interest in the Property is not a statutory lien. 7. Section 522(f)(2)(A) of the Bankruptcy Code provides: A lien shall be considered to impair an exemption to the extent that the sum of227 (i) the lien; (ii) all other liens on the property; and (iii) the amount of the exemption that the debtor could claim if there were no liens on the property; exceeds the value that the debtor222s interest in the property would have in the absence of any liens. Section 522(f)(2)(B) provides that 223[i]n the case of a property subject to more than 1 lien, a lien that has been avoided shall not be considered in making the calculation under subparagraph (a) with respect to other liens.224 8. Following the formula set forth in 247 522(f)(2)(A) for determining whether a lien impairs an exemption, the debtor: Adds the lien being tested for avoidance: + $ Adds all other liens: + $ Adds the maximum exemption allowable in the absence of liens: + $ Totaling: = $ Then, from this total sum, Subtracts the value of the Property absent any liens: less $ To determine the extent of the impairment: = $ . 9. Since the extent of the impairment of the exemption, $ , exceeds the entire value of Respondent222s lien, $ , the entire lien is avoidable. 227 OR 227 10. Since the extent of the impairment on the exemption, $ , is less than the entire value of the lien, $ , the Respondent222s lien can be avoided only to the extent of the impairment of the exemption, $ , and the balance of $ remains as a lien on the Property. WHEREFORE, the debtor requests this Court enter an order (A) avoiding the [judicial lien or nonpossessory, nonpurchase-money security interest] held by [name of Respondent] on the Property, in the amount of $ ; and (B) granting other relief [specify]. Respectfully submitted, Dated: By: [Signature] [typed name, with address, e-mail ad-dress, and telephone number] American LegalNet, Inc. www.FormsWorkFlow.com