Eichler

Eichler v. Gray

Good Law
27 F.2d 328·1928 U.S. App. LEXIS 3400
United States Court of Appeals for the Ninth CircuitJuly 2, 1928No. 5414California482 words

Opinion

Lead Opinion

Dietrich, J.

The controlling question submitted is whether a trustee in bankruptcy has the requisite standing to challenge the validity of a mortgage in the form of a trust deed, signed and delivered in good faith for a present consideration, and covering real property in the state of California, upon the ground alone that the acknowledgment and the certificate thereof are void.

Section 67a of the Bankruptcy Act (11 USCA §' 107(a) provides that “claims, which for want of record or for other reasons would not have been valid liens as against the claims of the creditors of the bankrupt, shall not be liens against his estate,” reference undoubtedly being to the state laws. Collier (13th Ed.) p. 1507. And under section 47a of the Bankruptcy Act, as amended (11 USCA § 75 [a]), a trustee in bankruptcy, “as to all *329 property in the custody or coining into the custody of the bankruptcy court, shall be deemed vested with all the rights, remedies, and powers of a creditor holding a lien by legal or equitable proceedings thereon; and also, as to all property not in the custody of the bankruptcy court, shall be deemed vested with all the rights, remedies, and powers of a judgment creditor holding an…

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