Opinion
No. B-77-697
September 28, 1978
Corporate Reorganizations — Adversary Proceeding — Judgment Quieting Title
A Chapter X trustee was vested with legal and marketable title to real estate by virtue of adverse possession by the trustee and his predecessors in interest for a period of more than twenty-one years prior to the execution and filing of the adversary proceeding.
The trustee for the debtor filed a complaint in the Chapter X proceeding for the purpose of quieting title to a tract of real estate. The bankruptcy court found that it had jurisdiction over the subject matter of the action under Section 111 of the Bankruptcy Act, which provides that the court in which a petition is filed has "exclusive jurisdiction of the debtor and its property, wherever located."
The court held that the trustee and his predecessors in interest were vested with legal and marketable title to the real estate by virtue of their actual, open, notorious, hostile, continuous and adverse possession and occupancy of the property. See Sec. 111 at ¶ 3018 . . .