Collecting Rent from a Bankrupt Tenant:

Once a tenant files for bankruptcy, a lease becomes subject to the rules of bankruptcy, the tenant becomes largely untouchable, and you “get in line” according to your priority as a creditor. Bankruptcy triggers certain legal rights and obligations not included in the lease itself that a landlord must navigate to minimize loss.

Eligibility Issues in Chapter 13

For a debtor to be eligible to commence a Chapter 13 case, certain statutory requirements must be adhered to.  Section 109 of the Bankruptcy Code provides these requirements, which are as follows: Only “individuals” have access to Chapter 13 as a means of financial rehabilitation.  11 U.S.C. §109(e).  Eligibility for other chapters of bankruptcy is not as limited; for example, …