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Explain chapter 11 bankruptcy to me?
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Markwright
Posted 3/17/2012 20:18 (#2292226 - in reply to #2292150)
Subject: RE: Land owner can call a hearing


New Mexico
and present the no pay = then it's not rented contract to the 11 Judge.

If the Judge agrees w that, then they can rent it to you.

If not, then not.

( keep in mind THEIR contracts may not be written as you say YOUR contracts are )

Also the 11 Trustee ( 3rd party which now handles ALL accounts of the bk filed ) needs notified that the landowner payment on the land itself is rent dependant this year.

Trustee is bound to notify the Judge of the afore also, thus not let the 11 cascade "backwards." ( expand and break the whole community ).

What a mess.
It's up to the sparrow in the black cape so to speak.

Irregardless, you will likely get the land next year, because the land owners can terminate the lease this year.



Edited by Markwright 3/17/2012 20:21
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