Do we need to inform landlord?

[crescentmoon]

We have no intention of moving, and have always paid our rent on time. I know we have to list our security deposit in our personal property information, which means my landlord will be listed. I'm assuming that since we have a lease, it gets listed as a debt as well? Is that right?

Should we contact our landlord ahead of time and give him a head's up that we are filing, but intend to stay in the apartment? Or will he even be notified?

Thanks!
KBB

[justbroke]

We have no intention of moving, and have always paid our rent on time. I know we have to list our security deposit in our personal property information, which means my landlord will be listed. I'm assuming that since we have a lease, it gets listed as a debt as well? Is that right?

Yes, it gets listed. However, since it's a lease, you need to take an affirmative action to keep the lease. This is called "assuming" the lease.

In Bankruptcy you must either assume (keep) or reject (end) a lease. By default, a lease is automatically rejected 45 days after filing. If your landlord found out, they would certainly proceed to evict you, as they should, if you don't assume the lease! A lease is considered to be in breech the day before you filed!

Should we contact our landlord ahead of time and give him a head's up that we are filing, but intend to stay in the apartment? Or will he even be notified?

I think it's good to warn the landlord and let them know what your intentions are! If you're a stand-up person and pay on-time and want to continue to lease, you usually have no problems!

[frogger]

I think it's good to warn the landlord and let them know what your intentions are! If you're a stand-up person and pay on-time and want to continue to lease, you usually have no problems!

Spot on advice.

[ForumReader]

I am renting a place as well (not an apartment, but in a private home) and I discussed with my attorney. He did not specifically list my landlord's name on my paperwork, but listed my security deposit. He told me it was up to me to inform the landlord. Since I have been paying my rent on time and have been renting the place for 2 years already, I intend to honor the lease addendum that I signed and have already informed the landlord. To date, there seems to be no problems from my landlord being aware I have filed for BK. My attorney said the key thing is keeping rent payment current and if not, then there would have been problems.

[justbroke]

My attorney said the key thing is keeping rent payment current and if not, then there would have been problems.

Good stuff.

A savvy landlord, not too unlike myself, would look to see if you have assumed the lease. If you have not, then the savvy landlord would immediately proceed with eviction.

I believe the key is informing your landlord of your intent as well as keeping current! The landlord is still in a bad place if you don't assume the lease, and later decide to abandon the place. (Alas, there is some caselaw on intent and whether your continuing to lease the place and live there is your actual intent of assuming the lease.)

In the end... you don't need to add your landlord to the Matrix. I did not add my landlord to the Matrix. However, I did reject the lease by motion. I did inform him in advance and we worked out the security deposit and last month's rent so I didn't even need to pay the last month's rent. Working with your landlord is always the prudent thing to do.

[crescentmoon]

Thanks for all your help. I called the landlord a bit earlier and let him know that we love living here, and would certainly like to continue living here, and that we would be filing very soon. He thanked me for letting him know and everything is good!

KBB

[killinstinct]

How do you "assume" the lease? Is it something you file with the court? Or do you just work it out with your landlord? I've heard nothing about this.

[backtoschool]

How do you "assume" the lease? Is it something you file with the court? Or do you just work it out with your landlord? I've heard nothing about this.

It's a check mark box on your petition. If you want to assume the lease you check the box.

[killinstinct]

I'll check my petition...I don't recall anything about this. We had a storage unit 'lease' that was listed that has gone unaffected. They do a direct withdrawl for payment and I called them to insure there were no issues. There were none. Our lawyer said NOTHING about our apartment though. He listed the deposit in our petition, but I don't remember anything else.

[justbroke]

I'll check my petition...I don't recall anything about this.

It's on your Schedule G - Executory Contracts and Unexpired Leases. There are two options... reject or assume.

[killinstinct]

Thank you. I specifically asked about this. I'm afraid my attorney said nothing about it and I'll check. I'm afraid he 'forgot'. If he did, I'm going to be pretty upset.

[killinstinct]

Ok, I just checked. It's not there. Our storage unit is listed on Schedule G, but no leases are listed on the statement of intention. I will ask my lawyer about this. Tomorrow is my 341 and if justbroke is right that gives me very little time to correct this.

I specifically asked my lawyer about this and he told me we didn't need to notify them!!!

[justbroke]

I specifically asked my lawyer about this and he told me we didn't need to notify them!!!

Some never list it.

[ForumReader]

I am bringing my lease to my 341 meeting in case the TT confirms the validity of my leasing a place since it was not listed in my schedule, just my security deposit. Gotta cover all bases anyway for the 341!

[leena]

My lawyer told me that you do not need to notify your landlord, and that no one notifies your landlord if you file BK, so not sure where all of this is coming from... Considering his firm has four offices in the metro area, I think he would know if people were having a problem with their leases. My lease was not listed in my matrix, either.
I can also speak here as an Rental Property Manager by trade and say I have never been notified of a resident's BK and I have no grounds, at least here in MN to evict a resident for anything other than non payment or other violations of a lease.