Need Help

Our house is to be sold at the sheriffs sale on Janauary 7, 2009. With that said we are looking into possibly filing BK. We are waiting to see about the deficiency judgment.

We have just rented a nice house and I was reading my lease agreement and under default it states that teanant sall be in default of this lease upon the occurrence of any of the following and this is listed as number 3. Teanant files petition in bankruptcy ( in which case this lease shall automatically terminate and teanant shall immediately vacate the premises leaving it in the same condition it was in on the date of possession).

Boy does this scare me. Anyone have any comment.

I am just thinking that if we file bankruptcy that our lease is terminated? Or could this just be if we list the landlord as one of our creditors then our lease would be terminated.

Please help anyone with any advice. We signed a 3 year lease and love the house.

You have to go by the letter of the word. What is says is what it means. I would discuss this with your landlord though and see if he would wave that clause (in writing) as you intend to be a good tennent. Remember we have a housing glut now and that goes for renters too. 'Hub