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If you have a year lease for a house and you pay your rent on time every month can the lease be broken because the property management suddenly found you had a bankruptcy?
Wiki User
∙ 12y ago
If they asked you on the application, and you lied, then, yes, technically, that is a lease violation that gives the landlord the right to terminate the lease. But, you make a very good point - why would they bother at this point? Sometimes, big management companies have hardline policies because they don't want word to get out that they're soft.
Evicting you would be a pain, and not really worth it. They might be smart to write you a letter saying that they will not be renewing the lease when it's up.
Wiki User
∙ 12y ago
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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.
Can a person who surrendered their property in bankruptcy sign a deed in lieu?
A person who is engaged in a bankruptcy proceeding cannot convey property outside of the court proceeding. You should contact the trustee in bankruptcy for advice because the court will want to review the transaction. You will likely need a court order to execute the deed.
In a bankruptcy what does it mean if a creditor filed a motion to release because you got behind on your mortgage?
The lender is requesting to be removed from the bankruptcy procedure. If the request is granted the lender can foreclose on the property or take whatever action is allowed under the laws of the state where the property is located.
If you file bankruptcy because of personal debts related to your business then sell your business after the bankruptcy can the courts take your proceeds?
== == YES. All of your property is considered in a bankruptcy. Your creditors have every right to get at ALL of your property including your business assets. I would be very surprised if the court didn't order the sale of the business to satisfy the creditors demands.
Will I lose a lot of profit using a property management company?
You may well lose some profits when using a property management company. Because the managers aren't managing their own assets, they have less incentive to keep them in top shape. As a result, the property management industry has a bit of a bad reputation.
Can a person discharged from chapter 7 bankruptcy purchase real property after discharge?
Unlikely, because no lender will give the person a mortgage. There is no legal barrier to buying real property if the person can get the funding.
If an offer on a property that is not having the mortgage paid because the owner is going brankrupt how does the potential buyer stand legally?
If the owner has filed bankruptcy the property cannot be sold. It is in the legal possession of the trustee in bankruptcy who cannot sell any property without the permission of the court. You can contact the court for the name and contact information of the trustee and direct any questions you may have to the trustee.
Why can you not sell a Grammy award?
I believe, it is because it is property of the Academy and is, according to the recent Toni Braxton bankruptcy hearing, non-transferable; it is property of the academy and the recipient and therefore cannot be sold without both of their consent.
Whether gifts comes under exempt or nonexempt property in bankruptcy law?
Gifts are typically considered nonexempt property in bankruptcy law. Nonexempt property is subject to being liquidated or sold to repay creditors in a bankruptcy case. However, there may be certain exemptions or limitations depending on the specific bankruptcy laws of the jurisdiction and the value or nature of the gift. It is best to consult with a bankruptcy attorney to understand how gifts may be treated in your specific situation.
How do you get a title from the bank if your you have been discharged from a chapter 11 but you can't get the title from the bank?
Real property such as a vehicle or house is not dischargeable in bankruptcy. The debt must be reaffirmed, paid or satisfied or the property forfeited to the lender. That being the case, the person would not be entitled to a clear vehicle or land title from the lender simply because the debt was included in bankruptcy.
When a judgment is awarded against a man and wife and his company and the husband files bankruptcy on the company but the wife is not a party to the bankruptcy can her wages be garnished?
If both persons were sued and a judgment awarded but only the husband filed bankruptcy and included the debt; the judgment can still be executed against any non-exempt property belonging to the wife and perhaps jointly owned property as well. The legal presumption is that the debt is still owed because it was jointly incurred.
How can you protect your house or car from a lien holder?
The person has a lien because they have a legal financial interest in the property. That makes 'protecting' the property very difficult without either purchasing their interest from them or having their interest removed through bankruptcy.
