My landlord filed for chapter 7 bankruptcy. He has not returned my security deposit. Does he have to list me as a creditor?
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My landlord filed for chapter 7 bankruptcy. He has not returned my security deposit. Does he have to list me as a creditor?
By filing for bankruptcy has he broken the lease? If so, can I get out of it?
Asked on April 12, 2009 under Bankruptcy Law, Louisiana
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
First thing is first. Filing bankruptcy doesn't mean he has broken the lease. You need to find out if someone will be taking over the property. Second, you cannot get out of this lease until you find out from him if he intends to break the lease. Hearsay right now is hearsay. Wait and see. Check out the following link: https://law.justia.com/louisiana/codes/123/107468.html
Next, in terms of listing you as a creditor, does your state require your security deposit be held in a separate, interest bearing account? If so, then if it is his business account and he is not claiming bankruptcy of his business, and only personal, it may not be an issue and you may not be a creditor. There are a lot of unanswered questions. Do you know where he filed? How did you find out? Is it because he indeed listed you as a creditor? If so, talk to the trustee or his lawyer. See what the status is. If there is a possibility you will lose your security, contact the following departments in your state:
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