When faced with difficult financial situations, tenants will sometimes make the decision to file for protection under the Bankruptcy Code.
When a person files for Bankruptcy, an automatic stay may go into place. The automatic stay prevents you from taking any action or continuing any action against the tenant. At that time, you need to know what to do in order to protect your rights and your property.
As a property owner, even if a tenant files for bankruptcy, you still have the right to recover the money that you are owed, both prior to the date of the filing and subsequent to the filing date, as well as having the right to enforce the terms of the lease and regain possession of your property. At Mitofsky Shapiro Neville & Hazen, we can assist you in asserting your rights and protecting your property. New provisions have been enacted to the Bankruptcy Code to protect property owners. However, without the knowledge to utilize these rights, you run the risk of harming your own financial interests.
The lawyers of Mitofsky Shapiro Neville & Hazen have represented its clients in the Bankruptcy Courts of both the Southern and Eastern Districts of New York, allowing these property owners to both collect monies they are owed under the lease and recover their property.