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Spendthrift trusts are technically not "exempt" from the bankruptcy estate, but are "excluded" from the bankruptcy estate pursuant to section 541(d) [24] of the Bankruptcy Code. A spendthrift trust is a creature of Florida state law and must meet is requirements in order to be considered a spendthrift trust. [25]
The two would get into real estate development once again and buy over 3,000 vacant lots from Atlantic. It was part of a plan by Atlantic to get $200 million to sell off half of the 87,000 acres and 9 water processing plants it had, but this idea "never fully materialized," with Atlantic filing for bankruptcy protection in 2001.
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
Filing for bankruptcy should be a last resort, as it has lasting consequences on credit and financial opportunities. Fortunately, you can take proactive steps to avoid bankruptcy and regain ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
Lindsay Fanali, strategic real estate advisor at Real Estate Bees, said it’s absolutely not true that you need 20% down to even enter the market in Florida. “One myth I hear a lot is that you ...
She wouldn't be alone: bankruptcy filings in the U.S. surged by 18% in 2023, according to a study from bankruptcy data provider Epiq AACER. In total, the study concluded, filings rose to 445,168 ...
The company's lender filed foreclosure action in 2009 and no other buildings were constructed. The project went into bankruptcy. [1] That same year, iStar Residential, a division of iStar Financial, purchased 160 of the unsold residences and leased a majority of them while the South Florida real estate market was in recovery.