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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2884
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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If I have a lease with a landlord, and that landlord files

Resolved Question:

If I have a lease with a landlord, and that landlord files bankruptcy, does his bankruptcy make my lease null and void?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
No, not necessarily. The debtor can choose to assume the lease. If so, all lease terms remain in effect. If the debtor rejects the lease, it may be considered a breach. You can usually stay in the property if so, but you need to then start paying the mortgage company. You can then stay until the end of your lease if you are current and have remained so. Talk to the debtor's lawyer to confirm what the landlord's intentions are with the lease. Good luck.
Customer: replied 7 years ago.
I recieved a letter from his attorney stating that he would like to keep the lease. I want to get out of it though, The house was just broken into last week and I then found out that this house has a reputation of being broken into. We were assured that this was a safe neighborhood by the real estate company that the landlord was using to lease the place.
Expert:  Terry L. replied 7 years ago.
Unfortunately, you cannot get out of the lease just becuse he filed. If the landlord is in breach of another clause of the lease, such as safety etc you might be able to. Read your lease terms carefully and discuss the matter with a local landlord/tenant lawyer. good luck.
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