0
While I'm not certain how, if at all, his filing bankruptcy controls your options - for sure - it isn't a repossession. That is done when someone defaults on a mortgage and that process changes ownership of the property to the mortgage holder. The mortgage holder then has to evict and take possession of the property.
Presuming he hasn't paid his rent (if he has, you have no cause for action), that last step - eviction - is what you have to do with a non paying tennant.
What else can I help you with?
When an offensive player running with the ball loses possession?
a turnover. the other team assumes possession and the game continues. a turnover. the other team assumes possession and the game continues.
When did THQ declare bankruptcy?
On December 19 2012, THQ declared bankruptcy. THQ sold its assets to Sega, Ubisoft, Take2, Coach Media and Crytek. THQ continues publishing duties at PC Gamer
Why is profit requirement of business?
If a business is not making a profit then they are losing money if this continues a business will reach a point in which it will have no money and declare bankruptcy.
Does Lowe's have a bankruptcy address?
As of my last knowledge update in October 2023, Lowe's has not filed for bankruptcy, so there is no bankruptcy address associated with the company. Lowe's is a well-established home improvement retailer and continues to operate its stores and online services without any bankruptcy proceedings. For the most current information, it's always a good idea to check reliable financial news sources or the company's official communications.
Can a co signer file bankruptcy on a car loan?
Yes, a co-signer can file for bankruptcy, which can affect their liability on a car loan. However, filing for bankruptcy does not automatically eliminate the primary borrower's obligation to repay the loan. If the primary borrower continues to default, the lender may pursue the co-signer for repayment, as they are jointly responsible for the debt. It’s important for both parties to understand the implications of bankruptcy on their financial obligations.
What happens to a mortgage after a bankruptcy?
What happens to a mortgage after bankruptcy depends on whether or not the debt is reaffirmed. If the mortgage is reaffirmed the homeowner continues to pay it as if the bankruptcy had not been filed, since the debt has not been discharged. If the debt is not reaffirmed, what happens to the mortgage depends on the policies of the individual lender.
If a hockey goalie makes a save during a delayed penalty does that count as possession?
If the goalie makes a kick save or toe save and the puck stays active, it is not considered possession and play continues. If the goalie makes a secure glove save or covers up the puck it is considered possession, resulting in a stoppage of play where the penalty is then assessed.
Did Dillard's file for bankruptcy?
As of my last update in October 2023, Dillard's had not filed for bankruptcy. The company has maintained its operations and continues to be a prominent department store chain in the United States. For the most current information, it's advisable to check recent news sources or financial reports.
What does bankruptcy do to you?
Personal bankruptcy can do two things. 1) Chapter 13 Bankruptcy, or reorganization Bankruptcy lets an individual work with their creditors to pay back debts without the threat of foreclosure or harassment. This lets someone do the right thing and pay people back. 2) Chapter 7 Bankruptcy is a more extreme step. During Chapter 7 one continues to make essential payments while paying nothing to other creditors. Next, all assets are liquidated and distributed to creditors. Bankruptcy is the really last resort and only you know whether you go to this route. I have filed bankruptcy and it worked well because of the help from the financial advices. http://freshstartsolutions.com.au/bankruptcy/ It is really important to seek an advice before making decisions.
What is filing bankruptcy?
Bankruptcy is a legal tool individuals and companies use when they are no longer able to repay debits. In the United States their are two sorts of personal bankruptcy. 1) Chapter 13 Bankruptcy, or reorganization Bankruptcy lets an individual work with their creditors to pay back debts without the threat of foreclosure or harassment. This lets someone do the right thing and pay people back. 2) Chapter 7 Bankruptcy is a more extreme step. During Chapter 7 one continues to make essential payments while paying nothing to other creditors. Next, all assets are liquidated and distributed to creditors.
Why are Indians silent on post mahabharata events?
The epic continues even after Mahabharata war. Details are available
Can you terminate a commercial lease by filing bankruptcy?
Yes and no. A TENANT can terminate a commercial lease by filing bankruptcy. Under Section 365(b) of the Bankruptcy Code, a tenant has 120 days from filing a bankruptcy petition to either assume or reject the lease. This can be extended once by 90 days, with court permission. Unless the tenant files a timely motion with the bankruptcy Court to assume the lease (and cures past defaults and provides "adequate assurances" of future performance), the lease will automatically be deemed rejected. If the lease is at an above-market rental, or otherwise disadvantageous to the tenant, the tenant should surrender possession and bring an earlier motion to reject the lease. If the lease is at a below market rental, the tenant should consider assuming the lease and assigning it through bankruptcy. Under Bankruptcy Code Section 502(B)(6), the tenant will still be liable to the landlord for damages for early termination of the lease, but these damages are subject to a "cap" equal to 15% of the value of the unexpired lease term - not to exceed three (3) years rent. The landlord wil have an unsecured creditor's claim for these damages, and will share equally with all other unsecured creditors in the bankruptcy. If a tenant continues to occupy the premises after the bankruptcy filing, the landlord will have what is known as a priority "administrative" claim for the rental value during that period, and will be given preference over other general unsecured creditors to recover those amounts. A tenant's bankruptcy will not terminate liability under any personal guarantees given in connection wit the lease, unless the guarantor also files for bankruptcy. Depending on how the lease and the guaranty are structured, the guarantor may not be able to claim the benefit of the "cap" on damages. A LANDLORD may not unilaterally terminate a commercial lease by filing bankruptcy. Under Section 365(h) of the Bankruptcy Code, a tenant whose landlord has filed bankruptcy has the option to either treat the lease as terminated and vacate the space or to remain in possession (and continue paying the rent) for the balance of the lease term (including any extension options, if timely exercised by the tenant). There are many subtle nuances and exceptions to these basic rules and a party to a commercial lease should seek the advice of competent counsel before taking action to terminate that lease.
