Question by Daddy Green Jeans: What happens if my apartment complex files bankruptcy?
I just found out that my apartment complex filed bankruptcy in Feb 2011. What are the possible outcomes for this situation? I’m actually quite ignorant on bankruptcy laws, especially dealing with apartments. Thx for the time and consideration.
Please help
Best answer:
Answer by S
There is a strong chance that your building will be sold on,perhaps with tenants perhaps without.
You will hear soon enough I think,it would be wise to have a plan ready for the event of your tenancy being terminated as a precautionary measure.In some cases a landlord will buy up a building with existing tenants in that case you would still be ok,it honestly depends on how the liquidators wish to deal with the property.
My advice is start saving and prepare to Move home.
Good luck.
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