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Can debtor assume residential rental lease in Chapter 7?
Debtor has a long term residential lease but owes sums for late fees (about
$2K). Rent is current. Debtor wants to keep this long term lease. I
understand it is automatically rejected if not assumed by the trustee
within 60 days.
Can debtor assume lease and if so, what is the procedure, and does Debtor
have to cure the prepetition late fees? If debtor has to cure the
prepetition late fees, what does "promptly" mean under 365?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
*By State Bar of California Board of Legal Specialization
**For a quicker response, email me at holly@roarklawoffices.com.
I only use gmail for my listservs, and am likely to miss private emails
directed to my gmail account.**
Debtor has a long term residential lease but owes sums for late fees (about $2K). Rent is current. Debtor wants to keep this long term lease. I understand it is automatically rejected if not assumed by the trustee within 60 days. Can debtor assume lease and if so, what is the procedure, and does Debtor have to cure the prepetition late fees? If debtor has to cure the prepetition late fees, what does "promptly" mean under 365?Holly RoarkCertified Bankruptcy Specialist*and Sports Lawyer
holly@roarklawoffices.com**primary email address**
www.roarklawoffices.com
Central District of California
Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600
Los Angeles, CA 90067
T (310) 553-2600
F (310) 553-2601
*By State Bar of California Board of Legal
Specialization
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