REDEMPTION OF PROPERTY FROM
U.S. Bankruptcy Court for the Eastern District of Texas
Text
LIEN OR SALE.
(a) Contents of Motion A motion for redemption of property pursuant to §722 of the Bankruptcy Code shall contain the 21-day negative notice language described in LBR 9007(a) and be TXEB Local Rules Revised: August 22, 2022 Page 63 of 83 accompanied by an affidavit of the debtor which discloses the following information: (1) (2) (3) (4) (5) the date of the purchase and purchase price of the item(s) of property sought to be redeemed, as well as the account number by which the secured creditor can identify the particular loan transaction(s); a specific description of the condition of such item(s) of property; the Debtor’s opinion of the fair market value of such item(s); the basis for the Debtor’s opinion of the value of such item(s); and the creditor’s valuation of such item(s) as indicated in its proof of claim, if any. (b) Service Service of a motion for redemption of property shall be made upon any affected creditor and the Chapter 7 Trustee. TXEB Local Rules Revised: August 22, 2022 Page 64 of 83 PART VII.