Bankruptcy Law

Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Bankruptcy Law
This answer was rated:

OFFICE LEASE

LANDLORD IS FILING BANKRUPTCY....
LANDLORD IS FILING BANKRUPTCY. SHE IS TRYING TO KEEP THE BUILDING. THERE ARE 6 TENANTS WITH SEPARATE OFFICES. IF THE BANK TAKE IT BACK WILL THEY HAVE TO HONER OUR LEASES OR CAN THEY TELL US TO LEAVE. OFFICE BUILDING IN THE STATE OF TENNESSEE. THANK YOU FOR YOUR HELP
Show More
Show Less
Ask Your Own Bankruptcy Law Question
Answered in 20 hours by:
7/18/2008
VanDLaw
VanDLaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 833
Experience: Chapter 7 & 13
Verified

HelloCustomer

Commercial real estate leases are governed by special rules in bankruptcy. If a lease's term has not yet expired, it is known as an "unexpired lease". Although the landlord can reject a lease and no longer perform any of its duties as landlord, the landlord cannot use bankruptcy to evict a tenant that prefers to stay in possession of the premises. In Section 365(h)(1) of the Bankruptcy Code, a tenant may elect to remain in the premises for the remaining term of the lease, plus any renewal or extension of the term that may be provided in the lease if enforceable under applicable state law. If the tenant elects, the tenant must continue to pay the rent required under the lease but can offset against that rent any damages caused by the landlord's nonperformance.

However, you said she is trying to keep the building that means she is trying to "reaffirm" her obligation. If she does reaffirm and keep the building, your lease will remain intact.

If she is unable to retain the building, the bank does have the right to terminate the lease. However, it is highly unlikely they would do so. Unleased commercial property is a waste, and the bank will most likley want you to stay and keep paying.

Bankruptcy can have a significant impact on commercial real estate leases. For this reason, it is important to get prompt legal advice on your particular lease, especially if the bankruptcy proceeding has started, to protect your rights. Further, the tenants should be listed as a creditor on the Landlord's bankruptcy petition. Also, check your lease carefully there may be some language regarding the event of bankruptcy and any remedies.

Ask Your Own Bankruptcy Law Question
Customer reply replied 9 years ago
Landlord states that the personal bankruptcy part has been discharged. She did not reaffirm the building. The bank did ask them too. The construction/business part of the business has not been dischrged yet. Landlord states the building was in the personal part.

If I understand you correctly she included your building in her personal bankruptcy, and that has been discharged without her reaffirming. If that is the case the owner and your landlord is the bank. If you have the bank information call them and ask them what their intentions are in regards XXXXX XXXXX tenants in the building. They do not have to honor the lease, but most likely will.
VanDLaw
VanDLaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 833
Experience: Chapter 7 & 13
Verified
VanDLaw and 87 other Bankruptcy Law Specialists are ready to help you
Ask your own question now
Ask VanDLaw Your Own Question
VanDLaw
VanDLaw
VanDLaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 833
833 Satisfied Customers
Experience: Chapter 7 & 13

VanDLaw is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Terry L.

Terry L.

Attorney

2,679 satisfied customers

Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

511 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

< Previous | Next >

Related Bankruptcy Law Questions
We are a non-profit group...we are behind in our rent, owe
we are a non-profit group...we are behind in our rent, owe sales tax etc...I am considering bankruptcy for the non-profit but need guidance before I make that decision...I would like time to liquidate… read more
Lori
Lori
Juris Doctor
268 satisfied customers
I filed a chapter 13 bankruptcy petition in 2012. It was
I filed a chapter 13 bankruptcy petition in 2012. It was converted to a chapter 7 and I received a discharge of debt under USC 727. In 2016 I filed another chapter 13, and the same creditors who didn'… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I am considering filing a chapter 7 personal bankruptcy. I
I am considering filing a chapter 7 personal bankruptcy. I know some years ago there were some changes in the bankruptcy laws. What I need to know, first of all, is how much money can be retained in a… read more
LegalGems
LegalGems
Juris Doctorate
10,665 satisfied customers
I am being sued by my ex-landlord. Our family business
I am being sued by my ex-landlord. Our family business leased commercial store from him in 2008. I signed the lease in my name because the corporation was inactive at that time. I am not sure but i th… read more
ScottyMacEsq
ScottyMacEsq
Doctoral Degree
17,290 satisfied customers
I filed a Chapter 13 petition in 2012 which was converted to
I filed a Chapter 13 petition in 2012 which was converted to Chapter 7 and I received a discharge in 2015. While a case was still opened I filed a another 13 in 2016. The same alleged secured creditor… read more
socrateaser
socrateaser
1,031 satisfied customers
Rule 1009 all petitions, lists and scheduled statements and
Rule 1009 all petitions, lists and scheduled statements and admendments should be verified or contain unsworn delcaration to filed what is this… read more
Ray
Ray
Lawyer
Doctoral Degree
30,843 satisfied customers
I filed personal bankruptcy chapter 7 in 2011 and chapter 13
I filed personal bankruptcy chapter 7 in 2011 and chapter 13 in 2012. I receive a discharge for chapter 7 in 2012 and paid off my chapter 13 obligation in 2016. I did not not receive a discharge in th… read more
DrakeLAW
DrakeLAW
Juris Doctorate
973 satisfied customers
Can I rent to own a home in Tennessee with chapter 7 and
Can I rent to own a home in Tennessee with chapter 7 and chapter 13 bankruptcy on my credit?… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Files his Chapter 7 petition and fails to include a creditor
John files his Chapter 7 petition and fails to include a creditor whom he borrowed $5K from for an educational loan. He wants to amend his petition to include the creditor before his creditors meeting… read more
Terry L.
Terry L.
Attorney
Doctoral Degree
2,679 satisfied customers
I filed a volunteer chapter 13 bankruptcy petition. I
I filed a volunteer chapter 13 bankruptcy petition. I converted my petition to a chapter 11. I was later converted to a chapter 7 by the bankruptcy court. It was a asset liquidation case which consist… read more
DrakeLAW
DrakeLAW
Juris Doctorate
973 satisfied customers
I filed a chapter 13 bankruptcy petition in the district of
I filed a chapter 13 bankruptcy petition in the district of Connecticut. It was converted to asset case under chapter 7. The trustee filed a "notice of pendency of bankruptcy case" on the land records… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Personal Bankruptcy Chapter 7 in Florida, owner of a
Personal Bankruptcy Chapter 7 in Florida, owner of a one-person S-Corp services business. In filing Ch 7 (Personal) BK I understand I will relinquish all non-exempt personal assets. Question is on S-C… read more
DrakeLAW
DrakeLAW
Juris Doctorate
973 satisfied customers
I am in need of filing a chapter 11 personal bankruptcy due
I am in need of filing a chapter 11 personal bankruptcy due to abnormal circumstances … read more
DrakeLAW
DrakeLAW
Juris Doctorate
973 satisfied customers
What happens if a debtor files a chapter 13 petition and
What happens if a debtor files a chapter 13 petition and includes only two executory contracts on the schedules. Then, the debtor moves to convert to chapter 11 and files an amended set of schedules b… read more
DrakeLAW
DrakeLAW
Juris Doctorate
973 satisfied customers
Not a duplicate** Must a creditor petition the bankruptcy
Not a duplicate**Must a creditor petition the bankruptcy court to pursue a judgment lien for post-petition debt/arrears? Are they violating the automatic stay if they do not get permission from the ba… read more
Maverick
Maverick
Doctoral Degree
6,134 satisfied customers
I understand in personal bankruptcy this cannot be done, but
I understand in personal bankruptcy this cannot be done, but In a business to business environment, is it legal to publicize debtors who have filed bankruptcy, such as the company name, principals & a… read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
56,244 satisfied customers
I filed an initial "emergency" petition for chapter 13 and
I filed an initial "emergency" petition for chapter 13 and the rest of my documents are due tomorrow and I don't have all them ready, i filed without an attorney. I am trying to figure out how to get … read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,327 satisfied customers
In personal bankruptcy, what can they take? If you have a
In personal bankruptcy, what can they take? If you have a house and a lot of little things in the house like furniture, clothes, books, etc. All the personal things people normally have that wouldn't … read more
Rovena Andoni
Rovena Andoni
Juris Doctor
10 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x