In re: Smith

In Chapter 13 bankruptcy proceeding in which debtors attempted to avoid tax deed to their home that had been issued and recorded within two years of said petition, Dist. Ct. erred in denying debtors relief under bankruptcy fraudulent transfer statute (11 USC section 548) where Dist. Ct. erred in finding that applicable 2-year period for setting aside tax sale under section 548 began upon expiration of period for tax deed redemption, as opposed to subsequent date that tax deed is actually recorded. Under Ill. tax sale process, taxbuyer's interest is perfected against bona fide purchasers when taxbuyer records tax deed, and debtor's interest in his or her property is superior to that of taxbuyer up until tax deed is recorded.