Schedule G . Rental

[artpacbell]

Hi, Forum The place where i currently live is a Rental. Do i put that on Schedule G ? It's a 1yr lease .
Thanks for any info

[soleprop]

subscribing to your thread as i'm curious too. thanks for asking!

[getouttadebt]

We are surrendering our home and moved into a rental before credit was ruined. Our attorney put our rental lease payment amount on Schedule G. Thus, I assume this is the proper place for a rental.

getouttadebt

[FreshLikeADaisy]

Yes, that's correct; whether you're the lessor or lessee, you're supposed to declare all your leases on Schedule G. One common mistake (that I made myself) is to leave out storage unit leases even though you include it as an expense on Schedule J; fortunately it is rarely an issue and it wasn't for me. Schedule G isn't just for housing leases, but also for business equipment and any other kind of lease arrangement.

But technically, you'd include your rental housing (or storage, or whatever) on BOTH Schedule G, and on either Schedule I or J, depending on whether it was rental income, or an expense like the apartment you live in.

Hope that helps. Good luck!!!

[soleprop]

regarding leases: i signed a 3-year that should have expired this coming october, but i vacated the premise early upon realizing my business was failing, and the landlord rented it to a new tenant 5 months later. he's suing me for the 5 months of lost rent -- is this an active lease or inactive, i.e., do i list it as a lease in schedule G or just as an unsecured nonpriority debt?

[FreshLikeADaisy]

regarding leases: i signed a 3-year that should have expired this coming october, but i vacated the premise early upon realizing my business was failing, and the landlord rented it to a new tenant 5 months later. he's suing me for the 5 months of lost rent -- is this an active lease or inactive, i.e., do i list it as a lease in schedule G or just as an unsecured nonpriority debt?

Personally, because I was pro se and just careful this way, I'd list it and include a brief note in the description area like "In litigation, see Schedule F" or something to let the trustee know it isn't the ordinary situation. Why? Because you're still a party, and technically the lease hasn't expired.

Also, by filing Ch7, the litigation itself counts as a pre-existing claim, so you're best off listing it wherever you can so there's no future question about whether you made it clear in your filing. I don't think you need to list it in Schedules B or C (unless you're countersuing for damages) but definitely on F and G as well as Form 7, the Statement of Financial Affairs.

Someone else may have better info for you, but that's how I'd handle it. Good luck!!!

[soleprop]

thank you so much for the help!