Does lessor have to get relief from stay to pick up
Posted: Tue Apr 19, 2011 4:07 pm
Dear Holly,
Please review 365(p)(1) and (2), in tandem with 365(d)(1), for the chronology regarding a car lease in a Chapter 7. The gist: In the absence of a lease assumption within 60 days of filing, the stay terminates with respect to the car.
As for the 45-day deadline you mentioned, I think you may have confused a car lease with a debt secured by a vehicle. Please see the hanging paragraph immediately following 521(a)(7), in tandem with 521(a)(6), for the chronology regarding a debt secured by a motor vehicle. The gist: The stay terminates with respect to the car securing the debt if the debtor fails to redeem or reaffirm within 45 days of the 341 meeting of creditors.
I hope this helps.
Nick
Nicholas Gebelt, Ph.D., J.D.
Bankruptcy specialist certified by State Bar of California Board of Legal Specialization
Law Offices of Nicholas Gebelt
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Whittier, CA 90604
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