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Bankruptcy Landlord Tenant Law Litigation

Leased Property in Bankruptcy: Residential vs. Non-Residential

Bankruptcy is a fact of life in the United States. When it happens, the treatment of a lease as either residential or non-residential may be crucial to all parties -- landlords, tenants, subtenants and their counselors.

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When a person or business entity files for bankruptcy, many of that petitioning debtor’s assets will be protected from immediate seizure or other taking by the Bankruptcy Code’s automatic stay provisions. Such provisions enjoin creditors from taking any action to collect debts or repossess property (with certain exceptions), and they come into force at the moment the bankruptcy petition is filed.

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