Santa Monica Realtor Advisor: What Landlords Should Do with Bankrupt Tenants

Image via WikipediaIf the tenant files for bankruptcy before a Santa Monica Realtor or Landlord has won possession, an automatic stay is implemented. This means the tenant can stay in the premises until the court lifts this. You can proceed with an eviction despite an automatic stay if there’s illegal activity involved.

If the tenant files for bankruptcy after you’ve won your case, the new laws state that you can proceed with the eviction. An automatic stay is still granted in some states but with very limited qualifications.

If the tenant isn’t violating the agreement or is not behind in rent but has filed for bankruptcy, it’s up to the bankruptcy trustee to decide on the lease. An automatic stay can be asked for if the tenant falls into delinquency on rent.

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