Tuesday, October 22, 2013

When is your rent stabilized lease an asset?

The issue, pending before the United States Court of Appeals for the Second Circuit, is whether a rent-stabilized lease can be treated as an asset in a personal bankruptcy, just like a car or a piece of land, and used to pay off creditors.

New York Times: Widow’s Bankruptcy Case Poses Risk to Rent-Stabilized Tenants

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