23 Collier bankr.cas.2d 479, Bankr. L. Rep. P 73,371 in Re John H. Lenox Sina A. Lenox, D/B/A Lenox Farms, Debtors. Joseph A. Meyer Jo Ann Meyer James B. Meyer Germaine A. Meyer v. John H. Lenox Sina A. Lenox, D/B/A Lenox Farms

902 F.2d 737 23 Collier Bankr.Cas.2d 479 , Bankr. L. Rep. P 73,371 In re John H. LENOX; Sina A. Lenox, d/b/a Lenox Farms, Debtors. Joseph A. MEYER; Jo Ann Meyer; James B. Meyer; Germaine A. Meyer, Appellants, v. John H. LENOX; Sina A. Lenox, d/b/a Lenox Farms, Appellees. No. 88-15302. United States Court of Appeals, Ninth Circuit. Argued and Submitted March 15, 1990. Decided April 30, 1990. Daniel S. Corder, Smith & Corder, Reno, Nev., for appellants. Geoffrey L. Giles, Reno, Nev., for appellees. Appeal from the Ninth Circuit Bankruptcy Appellate Panel. Before WIGGINS and NOONAN, Circuit Judges, and TASHIMA * , District Judge. NOONAN, Circuit Judge: 1 Joseph A. Meyer, Jo Ann Meyer, James B. Meyer, and Germaine A. Meyer (the Meyers) appeal from an order of the Bankruptcy Appellate Panel (BAP). We affirm in part, reverse in part and remand. FACTS 2 John and Sina Lenox (the Lenoxes) bought a farm from the Meyers in 1974, giving a 15-year promissory note for $193,000, secured by a first deed of trust on the property. By the note's terms they were to pay $12,866.66 (principal and interest) annually, with the final payment on February 1, 1989. The Lenoxes defaulted in 1982, 1983 and…