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What happens when a creditor does not file a proof of claim for a secured debt in a bankruptcy case?
A secured creditor does not need to file a such a claim, the lien against the property is sufficient proof. Generally the lien holder/lender will ask for the automatic stay to be lifted so foreclosure or repossession action can continue or be implemented against the property. In a chapter 7 bankruptcy the borrower must be able to reaffirm the secured debt to avoid recovery or litigation action from the lender.
What happens if tenants remans in proparty after judgment for possession?
The landlord then called the Sheriff's office or Constable to have you ejected from the property.
Can you sell your property in bankruptcy and what happens to the funds of the sale?
Yes you can sale your home but the bankruptcy court will take the proceeds from the sale and disburse them to your creditors that you owe. No, everything except your selected exempt property belongs to the bankruptcy estate, as of the moment you file, and it can only be sold by the bankruptcy trustee, with permission of the court, to satisfy your debts in an orderly fashion.
Can a tenant sue a landlord who is in bankruptcy?
Normally the bankruptcy filing has nothing to do with whether or not the tenant has paid his rent. A landlord does not have the right to evict a tenant simply because the tenant filed chapter 7 unless that is part of the lease. The terms of the lease determine if the tenant will be evicted. If the tenant pays the rent, he should not be evicted.
What happens to all your personal property in your home after chapter 7 bankruptcy?
Generally, these are exempt assets and they remain yours, preumably to take with you.
What happens if a co signer files bankruptcy?
They both go bankruptcy
What happens if the motion for relief from a stay is denied?
Bankruptcy protection remains in place and the creditor who was denied the stay will remain a part of the bankruptcy and cannot attempt to collect the debt owed.
What happens to a judgment lien in a bankruptcy?
If the bankruptcy is discharged you are no longer responsible for the debt.
I live in my mothers house what happens to the house if she dies?
Simply stated, you are living in his mother's house at her discretion. You have no rights in her property other than those provided under local landlord/tenant laws. If the property was owned by his mother and your husband inherited the property on her death, then you would inherit it.
What happens if three people inherited property and one of three files bankruptcy?
The bankrupt's property interests can become part of the bankruptcy estate and ultimately disposed of by the court. On motion, indivisible interests might be excluded by the Bankruptcy Court and alternatively may be subject to satisfaction of value to creditors out of financial assets to protect the interests of the other owners. Sometimes some assets are simply absolutely excluded from the bankruptcy estate by statute in Title 11, or a rule promulgated thereunder, or in a common-law precedent.
What happens if landlord says he will lower rent then does not?
Nothing.
Can a landlord offer a valid lease to a tenant after a fore closer has been filed against the landloard?
When a rental property is under foreclosure, the landlord still has the right to collect rent, including the right to file evictions, until the mortgage lender takes possession of the property. When this happens the tenant will be given notice of proper instructions on how and where to pay rent, or to vacate the premises if applicable.
