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In re Krohn
Arizona Supreme Court
52 P.3d 774 (2002)
- Written by Whitney Kamerzel , JD
Facts
Linda Krohn (plaintiff) owned property worth $57,500. Her property was sold pursuant to a trustee’s power of sale to the sole bidder for $10,304. Krohn filed a bankruptcy petition to have the sale of her home vacated, and the bankruptcy judge vacated the sale because the purchase price was grossly inadequate. At the same time, the bankruptcy judge certified a question to the Arizona Supreme Court to determine whether the sale could be set aside solely because the bid price was grossly inadequate.
Rule of Law
Issue
Holding and Reasoning (Feldman, J.)
Dissent (McGregor, J.)
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