bankruptcy laws regarding joint parties on apartment lease
When two people sign a rental agreement for an apartment, can one of the two file for bankruptcy and if so is the other party than liable for the remaining rental term. If the other party than cannot pay the rent, can the landlord than evict and sue that person?
Re: bankruptcy laws regarding joint parties on apartment lease
In a word, yes (to both questions).
William Pinzler
william M. Pinzler
488 Madison Avenue, Suite 1100
New York, NY 10022
Re: bankruptcy laws regarding joint parties on apartment lease
Yes, if 2 people co-sign a lease one of those persons can file for bankruptcy and the remianing person on the lease can be then held fully responsible for all the rent and be sued or evicted by the landlord. The person filing for bankruptcy can also be evicted but rent money owed by that person up to the date of filing generally cannot be collected by the landlord as it is discharged in the bankruptcy. However, debt incurred after the filing date may be collected.
Eric Kochel
The Law Office of Eric David Kochel, Esq., P.C.
1230 Avenue of the Americas
New York, NY 10020