Michigan Bankruptcy Blog

How Do I Reject a Residential Lease in Chapter 7 Bankruptcy?

How Do I Reject a Residential Lease in Chapter 7 Bankruptcy?

It's Simple: Just File a Chapter 7 Bankruptcy [caption id="attachment_2605" align="aligncenter" width="225"] Image by Gertjian R., courtesy of Wikimedia Commons[/caption] Debtors Have No Power to Reject or Assume a Residential Lease in Chapter 7 Bankruptcy In Chapter 7 or Chapter 13 bankruptcy, the terms of a lease may, prospectively, be either "assumed" or "rejected." If the terms of the lease are assumed, obligations the filing debtor may have under that lease are continued. A lease for personal property, such ...

Posted on February 17th, 2014 by John Hilla - Michigan Bankruptcy Attorney in Michigan Bankruptcy

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