The property may go into foreclosure, but that has nothing to do with the tenant. Until there is a foreclosue sale, the tenant is obligated to pay rent to the owner.
DEPENDS ON THE SHERRIFF IN YOU COUNTY
what can happen if you are filing bankrupt and you miss your court date
By filing a BK petition in your local BK court.
Just the filing fee which is around 300.00.
you would think with their lack of cash flow AND their insistence on net 90+ day terms they would be near bankrupt. Their reputation amongst their suppliers is poor, at best. THEY like to drag out payments as long as they can. you would think with their lack of cash flow AND their insistence on net 90+ day terms they would be near bankrupt. Their reputation amongst their suppliers is poor, at best. THEY like to drag out payments as long as they can.
Your bankruptcy has noting to do with your tenant. If you were not filing, he would still owe you the rent.
Bankruptcies don't cover issues regarding rent. The renting of property, especially residential, is not an extension of credit-- it's the right to live on the property. A tenant filing bankruptcy still has to pay rent.
Yes
If you're in Texas.... GOODLUCK!
You have to make whatever payments are required as determined by the BK analysis, which should be lower than trying to make all your normal payments.
Like most things, it can...sometimes well sometimes not...depends on situation.
If you owe your landlord a lot of bank rent, they could be listed as a creditor. However, it might not be a good idea as the landlord may be more prone to evict you if they haven't gotten their money.