Question: I understand that Landlord has 1st right of lien on biz assets, since I am WAY behind. Attorney recommended striking a deal that LL takes ownership of assets, Biz is closed and reopened under different name and I am hired as manager...with option to buy back biz in future by paying him the arreared rent. I keep an income, he keeps a business that will pay his building rent. Is this legal?
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Are you saying your lawyer is recommending this deal to you with your lawyer as the business owner?I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go -
No- he's recommending my landlord as the owner, since it won't do either one of us any good if the biz closes.Comment
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I realize this is a late reply to your thread but I am interested in what you decided in your case? Did you or were you able to work out the business the way your explaining?Comment
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