Legal Question in Bankruptcy in Utah
lease/purchase
when filing a chapter 7 does the tenant need to reafirm the contract to keep it legal, it they do not reafirm does it put the contract in default
Asked on 11/18/06, 9:53 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: lease/purchase
The lease should be reaffirmed. However, if the tenant is current and stays current, it is not necessary to reaffirm. The tenant has the option to terminate the lease, the landlord does not.
Answered on 11/18/06, 9:59 pm
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