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When the 1990's recession hit what now multi millionaire real estate mogul was forced to declare bankruptcy?
Wiki User
∙ 15y ago
This is not 100% true. Whoever answered "Donald Trump" obviously doesn't study wealthy people, money or anything dealing with wealth building or investing. Mr. Trump never filed any type of bankruptcy. His Casino, "Taj Mahal" went bankrupt, but he himself never filed for any type of bankruptcy. He owed banks and lenders billions, but they realized that the only way to get their money back is to KEEP DONALD FROM BANKRUPTCY. So rather than foreclose on his properties, the banks/lenders devised a plan to keep giving him more money. Sounds like a bad move but they had to keep Donald in business, thus he would be able to pay them back. So, Donald never declared bankruptcy, despite the fact he owed billions to the bank. Banks and lenders had to keep him in business to get back those billions he owed so they gave him more money. Donald Trump
Wiki User
∙ 15y ago
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How do you have lien removed from property after bankruptcy and person has died?
If the lien is a mortgage or a tax lien, the bankruptcy may not have discharged the debt, and the estate would have to be probated. The estate may be bankrupt, and there is usually a state procedure for estate bankruptcy. Federal bankruptcy does not apply. Consult a local attorney experienced in estates.
If you file a bankruptcy will your holdings in another country be protected?
In a US bankruptcy, you will have to turn over all property of the estate. Out of country assets are property of this estate.
Is there a bankruptcy estate if every asset is exempt?
Yes
Can a real estate broker file bankruptcy?
Of course
If your bankruptcy has been discharged but your house is still in your name do you still have to pay back taxes?
A bankruptcy is not discharged. Debts are discharged. Real estate taxes are a lien on the real estate and would not usually be discharged. Talk to your bankruptcy layer.
How will bankruptcy affect the sale of real estate property?
No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.
Who was first black woman real estate millionaire?
Mary Church Terrell
What if the individual did not declare bankruptcy prior to death but the estate is bankrupt?
If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.If the estate is declared bankrupt by the court the heirs receive nothing and the creditors are out of luck.
Is it possible for the executrix of an estate to file corrupt bankruptcy for that deceased individual?
An executor cannot file for bankruptcy in the name of the decedent.
If a person files for bankruptcy and then they die can their estate be held responsible for any of their debt?
When a person dies leaving an estate then the first thing to settle from the estate are their debts which they have before the heirs and beneficiaries are given their share of it so whether a bankruptcy order has been petitioned or made or not this is the rule for everyone that dies leaving an estate.
What are the factors affecting recession?
Factors that affect recession are complex and vary between each incident. What most recessions seem to have in common is an over speculation in stocks, real estate, commodities or some combination precedes the recession. They are usually marked by a loss in confidence by the public which can affect the length/depth of the recession.
What does estate vested back to you mean?
In bankruptcy, it means any property that belonged to the bankruptcy estate is yours again. Usually because your case ended, was dismissed or the trustee decided to abandon the property as not worth the cost of converting to cash.
