Single asset real estate is a rule that applies in certain Florida bankruptcy proceedings. It can give the creditors added power over the debtor beyond what is typically applied in a bankruptcy proceeding.
If you are a debtor and have been ruled to be a single asset real estate holder, you might not gain all of the rights that you expected to have during your bankruptcy filing.
In order to fight against this issue and regain all of the protections that you need, you need the assistance of a qualified Florida-based single asset real estate attorney.
Single asset real estate is defined as a single property or project, other than residential real estate property with fewer than four residential units, among a few other qualifications.
If the debtor is unable or unwilling to make interest payments to the creditors within 90 days of the date of filing the case, the creditors may be able to receive a stay from the bankruptcy protections and pursue further action against the debtor.
You don’t want to try and fight this kind of concern without a qualified Florida bankruptcy attorney in your corner, so be sure to contact my office right away for assistance and direction
I have many years of experience fighting all kinds of financial law cases in the state of Florida, and you will be the beneficiary of all of that experience. Give my office a call today and we will offer you a free consultation.
No matter what point in the bankruptcy process you are in, I am ready to come to your aid and defend against a single asset real estate ruling.
Call me today for a consultation.