If you are a rental property owner, you have probably had to evict tenants for non-payment of rent. It’s a process that no one wants to go through as it is complicated and often heartbreaking. The process is rarely orderly and property damage is far too common.
We all understand that people can get in over their heads and will use the protections of Chapter 13 bankruptcy to keep their property while making payments. But what does this mean if you are the creditor?
A lot has been written about lease negotiations for good reason. You should never take a commercial lease for granted. It’s one of the most significant contracts a business owner signs, and a single paragraph of ambiguous language in a commercial real estate lease can result in years of frustration or possible lawsuits.
It is one thing for a customer declaring bankruptcy to discharge its debts to you as uncollectable. But there is an even worse outcome that can occur, called a preference action.
The reality that a business is likely to become bankrupt can evoke strong feelings of fear and shame hastily disguised in pride. Too often, a solution is within reach for those who can bend low enough to reach it. If you stay humble, you don’t have to be humbled. This is often true for personal issues as well as business issues.
Debt collection agencies typically move quickly. Based on their experience, the investigative tools they’ve developed and the skills their team has acquired over countless cases, it is in their best interest to resolve matters rapidly and efficiently. However, there are certain elements that might impact their ability to collect debts for creditors.
Landlords have the difficult task of ensuring both the safety and security of the rental property and the prompt payment of the tenants. While it’s not always the best solution, it might become necessary for a landlord to evict a tenant for either breaking the terms of the lease or failing to pay rent. Since the landlord-tenant relationship is not federally legislated, the landlord must be careful to follow state, county and city guidelines as they relate to evicting a tenant.
Boundary lines are typically clearly defined in surveyor’s assessments held on file. However, in the real world, boundaries might start to be defined by landmarks such as trees, shrubs or the edge of a driveway. If you are concerned about boundary lines or property encroachment, it is crucial that you take steps to fully understand the dispute.
A dispute can arise along any axis of a real estate transaction. Typically, commercial real estate transactions are more complex based on numerous moving parts and a variety of involved parties. While a disagreement might center on environmental issues, contract disputes or boundary discrepancy, one legal action that can arise is a “quiet title action.”
While selling a structured settlement can be a simple, straightforward process, there are numerous protections built in to ensure the seller is legally protected from a poor financial decision. Likewise, the company that is planning on purchasing the structured settlement payments must take steps to ensure they don’t suffer financial harm following the transfer of a structured settlement.