Perspective
Jul. 24, 2010
Problems With Assigning Rent For Properties in Bankruptcy
How can lenders protect their interest in a residential rental property when a borrower declares bankruptcy? By William Ireland of Haight Brown & Bonesteel
Today's real estate market and business environment continues to challenge and confound landlords, property owners, lenders and tenants. For instance, when a residential building owner defaults on his mortgage, it leads to an all-too-common set of problems. When lenders give out commercial loans, they do so in exchange for not just security in the real property but also to obtain a security interest in the rents of the property. In ...
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