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When filing bankruptcy do you need you need to notify your landlord if you're not behind on rent and won't be?

Discuss the legalities of Bankruptcy Law

When filing bankruptcy do you need you need to notify your landlord if you're not behind on rent and won't be?

Postby christie42 » Thu Mar 31, 2011 10:45 pm

The form has several options under Certification by a debtor who resides as a tenant of residential property.

1) Landlord has a judgment against debtor for possession of debtor's residence (does not apply, no judgment)

2)Debtor claims that under applicable nonbankruptcy law, there are circumstances under which the debtor would be permitted to cure the entire monetary default that gave rise to the judgment for possession, after judgment was entered AND debtor has included with this petition the deposit with the court of any rent that would become due during the 30-day period after filing the petition (does not apply; there is no monetary default)

3)debtor certifies that he/she has served the landlord with this notice (11 USC 362 (1))

The only one that looks like it might apply to is 3; but since there is no judgment or default what exactly am I supposed to notify them about?
christie42
 
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When filing bankruptcy do you need you need to notify your landlord if you're not behind on rent and won't be?

Postby crom » Thu Mar 31, 2011 10:49 pm

I am a bankruptcy attorney in Dallas, Texas. When you file bankruptcy and have executory contracts, such as an apartment lease, you must list it in your bankruptcy. You have a choice whether or not to assume the contract. You can continue paying and stay in the lease, or you can decide to move out with no penalty. Executive Contracts are listed on Schedule G and also on your Statement of Intentions. Because it is listed as an executory contract, you must notify your lender. That is why you have to notify them under number 3 above.
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