rental lease

[betpie]

I am a little confused on this area. I am currently on a 2 year lease for my apartment. I know that I need to list this in my BK (I believe it's Schedule G?). Am I supposed to inform my landlord that I am filing? How will my rental contract be affected?

[justbroke]

Strange, I answered this earlier, but the system ate my response.

If you are current on your lease and not "rejecting" it (wanting to get out of it), then just put it on Schedule G but do NOT put the landlord on the creditor matrix.

[betpie]

Awesome, thank you for your response!

I am current on rent. Is "rejecting" the agreement anyway an option? I am planning on breaking my lease in a few months to move abroad...

[justbroke]

Awesome, thank you for your response!

I am current on rent. Is "rejecting" the agreement anyway an option? I am planning on breaking my lease in a few months to move abroad...

Yes it is an option. You can mark it as "rejected" on Schedule G. Depending on your District rules, you may also need to file a Motion to Reject Lease... but usually marking it as rejected on Schedule G is sufficient. If you are going to mark it on Schedule G, you need to include the landlord Ion the creditor's matrix.

[betpie]

wow, so helpful! Thanks again!

[justbroke]

If you mark it as rejected, as I did, you need to be ready to move (or have already moved).

[WillinVT]

My lease was up in October of 2008 and now my wife live on a month to mont basis. Do I still include this on Schedule G and make a note that we are on a month to month basis?

[justbroke]

If you are on a month-to-month terms, I would look at the lease to see if it was "terminated". You can neither reject nor assume a "terminated" or "expired" lease.

If your lease automatically renews month-to-month, then you do have a lease. If they are holding a deposit and you are expecting to break the lease (many month-to-months require 60 day's notice), you should probably list it. Also, as mentioned, many leases have deposits. These are technically property of the estate (your money) and listing the deposit and the lease on your petition could help protect it... should you reject the lease and the landlord tries to keep the "deposit" (money).

I would probably just list in on Schedule G and note the "term" on there ("lease expired 10/2008 and currently automatically renewed month-to-month with XX days notice to terminate"). I would also list the deposit (security/damage) as property as well.

[WillinVT]

If you are on a month-to-month terms, I would look at the lease to see if it was "terminated". You can neither reject nor assume a "terminated" or "expired" lease.

If your lease automatically renews month-to-month, then you do have a lease. If they are holding a deposit and you are expecting to break the lease (many month-to-months require 60 day's notice), you should probably list it. Also, as mentioned, many leases have deposits. These are technically property of the estate (your money) and listing the deposit and the lease on your petition could help protect it... should you reject the lease and the landlord tries to keep the "deposit" (money).

I would probably just list in on Schedule G and note the "term" on there ("lease expired 10/2008 and currently automatically renewed month-to-month with XX days notice to terminate"). I would also list the deposit (security/damage) as property as well.

I had already listed my security deposit as personal property and exempted it, but I wasn't sure about the month to month lease on Schedule G. Thank you for clearing this up for me.