Opinion
Case No. 12-14308-DWK Adv. No. 12-00335
09-13-2012
In re: JAMIE B. BROGLEY, Debtor. LORI SIMPSON, Chapter 7 Trustee Plaintiff, v. CHARLES P. ROVETI Defendant.
SO ORDERED
________________________
U. S. BANKRUPTCY JUDGE
(Chapter 7)
Salisbury
STIPULATION AND CONSENT ORDER RESOLVING TRUSTEE'S COMPLAINT TO
SELL ESTATE'S INTEREST IN REAL PROPERTY AND INTEREST OF CO-OWNER
WHEREAS, on March 9, 2012 (the "Petition Date"), Jamie B. Brogley (the "Debtor") filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code;
WHEREAS, on or about March 9, 2012, Lori Simpson was appointed as the Chapter 7 Trustee ("Trustee") and has been acting in that capacity since that time;
WHEREAS, as of the Petition Date, the Debtor and her non-debtor ex-spouse, Charles P. Roveti ("Roveti"), owned certain real property known as Lot 1, Landing Neck Road, Trappe, Maryland 21673 (the "Property"), as tenants in common, the parties having divorced on June 21, 2011;
WHEREAS, on May 16, 2012, the Trustee filed a Complaint to Sell Real Property Known As Lot 1, Landing Neck Road, Trappe, Maryland Free and Clear of Interest of Co-Owner (the "Complaint");
WHEREAS, Roveti has contacted the Trustee expressing an interest to sell his one-half (½) interest in the property;
WHEREAS, the Trustee and Roveti desire to resolve the Complaint by the terms of this Stipulation and Consent Order Resolving Trustee's Complaint to Sell Estate's Interest in Real Property and Interest of Co-Owner (the "Stipulation and Consent Order").
NOW THEREFORE, the Trustee and Roveti do hereby agree, stipulate and consent as follows:
1. The foregoing recitals are true and correct and are deemed an essential part of this Stipulation and Consent Order; all parties agree to be bound by such recitals the same as if each such recital was fully restated in this Paragraph;
2. The Trustee has the authority to sell the Estate's (½) interest in the Property;
3. Roveti has the authority to sell his (½) interest in the Property;
4. The Trustee and Roveti will join in the sale of the Property;
5. The Trustee and Roveti agree that the proceeds from the sale of the Property shall be distributed and applied in the following order until fully disbursed:
FIRST: The actual cost and expenses of the sale of the Property, specifically including, but not limited to, charges, fees and disbursements necessary for the conveyance and transfer of the Property and real estate broker's commissions as authorized by the Court to be paid from the proceeds of sale; thereafter
SECOND: Legal fees incurred by the Trustee in relation to the sale of the Property in an amount not to exceed $2500.00; thereafter
THIRD: The proceeds shall be distributed equally between Roveti and the Debtor's Bankruptcy Estate; thereafter
FOURTH: The Debtor shall be paid her properly claimed exemption against the Property in the amount of $6,000.00; thereafter
FIFTH: Trustee's expenses, including expenses provided for under 11 U.S.C. § 503, as allowable pursuant to Order of the Bankruptcy Court, shall be segregated and escrowed pending Application and approval of such compensation and expenses by further Order of this Court after subsequent Notice; thereafter
SIXTH: All proceeds received by the Trustee, for payment of general unsecured claims of the Debtor, will be held by the Trustee in a Bankruptcy Estate account and distributed in accordance with the provisions of the Bankruptcy Code, subject to further order of this Court.
Having reviewed the terms and conditions of this Stipulation and Consent Order and finding the terms and conditions here to be reasonable, it is by the United States Bankruptcy Court for the District of Maryland, Northern Division, SO ORDERED.
CONSENTED TO:
________________________
Lori Simpson, Bar No. 04075
1400 South Charles Street Baltimore, Maryland 21230 (410) 385-5383 (410) 385-1514 (fax) lsimpson@bdslegal.com Counsel for Chapter 7 Trustee
________________________
Charles P. Roveti
30064 Schwaninger Road
Trappe, Maryland 21673
I HEREBY CERTIFY that the terms of the copy of the consent order submitted to the Court are identical to those set forth in the original consent order; and that the signatures represented by the ______ on this copy reference the signatures of the consenting parties on the original consent order.
________________________
Lori Simpson
cc: Office of the U.S. Trustee
101 W. Lombard Street, Suite 2625
Baltimore, Maryland 21201
Lori Simpson, Esquire
Law Office of Lori Simpson, LLC
1400 South Charles Street, 3rd Floor
Baltimore, Maryland 21230
Charles P. Roveti
30064 Schwaninger Road
Trappe, Maryland 21673
Mark F. Scurti, Esquire
Pessin Katz Law, P.A.
901 Dulaney Valley Road
Suite 400
Towson, Maryland 21204