18 B 3134, 25 A 55
Chapter 7 trustee filed an adversary proceeding against the debtor, his wife and two mortgage companies.  The complaint alleged that the debtor had transferred an interest in his real property to his wife and granted two mortgages, all without court authority or the trustee’s knowledge.  One of the mortgage companies filed a motion to dismiss, arguing that it was too late to avoid the mortgage because it had occurred more than two years before the trustee filed his complaint.  HELD: The statute of limitations may bar a claim under 11 U.S.C. § 549 and the complaint does not plausibly allege that the mortgage company is equitably estopped from raising this affirmative defense.  The mortgage may also be void as a violation of the automatic stay, even though it was part of a voluntary transaction by the debtor and even though the court had granted debtor’s discharge, as the real property was still property of debtor’s estate.  At this time, laches does not bar the trustee’s claims for relief based on fraud, rescission and constructive trust.  The trustee was granted leave to amend the complaint.