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    executory contracts

    First off I want to say Hello
    Second my question is this.
    I am renting a home and I found out last month that my landlord was in foreclosure on this house.
    I have signed a 1 year lease and I am only 6 months into it
    I recieved papers in the mail yesterday telling me my landlord filed bankruptcy and surrendered this house
    I was named on there as a creditor which confuses me
    I was also listed under executory contract and it says reject
    Can anyone tell me what all this means please
    I dont have money to get a lawyer and dont know if I am suppose to
    Thanks so much
    Sorry if i put this in wrong place
    If I did I will move it

    #2
    Executory COntract

    I believe i posted the first topic in wrong section so i apologize for that
    Here is my original question

    First off I want to say Hello
    Second my question is this.
    I am renting a home and I found out last month that my landlord was in foreclosure on this house.
    I have signed a 1 year lease and I am only 6 months into it
    I recieved papers in the mail yesterday telling me my landlord filed bankruptcy and surrendered this house
    I was named on there as a creditor which confuses me
    I was also listed under executory contract and it says reject
    Can anyone tell me what all this means please
    I dont have money to get a lawyer and dont know if I am suppose to
    Thanks so much

    Comment


      #3
      request a close please
      I posted in wrong section

      Comment


        #4
        Reject means that he is canceling the lease. If I were you, I would start looking for somewhere else; essentially as a backup plan. In the interim, you could file a motion with the bankruptcy court as to why the lease shouldn't be rejected, as the bank (probably) automatically takes over leases in that situation. That would probably, at least, allow you to stay through the end of the term of your current lease.

        You could also contact the bank that holds the mortgage and talk to them. Make sure you speak to their Bankruptcy department and explain.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment


          #5
          Just weird I was named as a Creditor and part of the paperwork is Proof of claim...am i suppose to file that out? Cause why would they owe me money

          Comment


            #6
            The reason he listed you as a creditor could be that you gave him a deposit, he can't fulfill his part of the contract etc. The reject of the contract is because he no longers want responsibility of the home, so he doesn't want the rental contract anymore. The trustee may contact you to pay the rent to them directly either prepare to pay her/him for a couple of months or plan on getting out when they call.

            Good luck
            Disclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.

            Comment


              #7
              You are a creditor because the landlord is probably holding a security deposit? You should file a claim (Form B10) for the deposit amount and any "advanced" rent that you may have paid (like "last" month's rent and/or security deposit).
              Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
              Status: (Auto) Discharged and Closed! 5/10
              Visit My BKForum Blog: justbroke's Blog

              Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

              Comment


                #8
                This conversation is at http://www.bkforum.com/showthread.ph...utory-COntract
                Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                Status: (Auto) Discharged and Closed! 5/10
                Visit My BKForum Blog: justbroke's Blog

                Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

                Comment


                  #9
                  @country - I merged your two threads. Now this one thread includes all the replies you've received on both.
                  I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

                  06/01/06 - Filed Ch 13
                  06/28/06 - 341 Meeting
                  07/18/06 - Confirmation Hearing - not confirmed, 3 objections
                  10/05/06 - Hearing to resolve 2 trustee objections
                  01/24/07 - Judge dismisses mortgage company objection
                  09/27/07 - Confirmed at last!
                  06/10/11 - Trustee confirms all payments made
                  08/10/11 - DISCHARGED !

                  10/02/11 - CASE CLOSED
                  Countdown: 60 months paid, 0 months to go

                  Comment

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