Bankruptcy & Unequivocal Intent To Assume The Lease

Bankruptcy & Unequivocal Intent To Assume The Lease

The Law on Assumption or Rejection of Leases Pursuant to Bankruptcy Code §365(a), a debtor in possession of real property, “subject to the court’s approval, may assume or reject any executory contract or unexpired lease of the debtor.” (11 U.S.C. §365(a).) In...
What is an Equitable Servitude?

What is an Equitable Servitude?

An equitable servitude is a legal term that is used, in the context of real property, to describe a non-possessory interest in land that operates much like a covenant running with the land.  In other words, it operates very much like a restriction on the use of land....
Impact of a Tenant’s Bankruptcy During Lease Term

Impact of a Tenant’s Bankruptcy During Lease Term

A tenant’s bankruptcy or insolvency does not automatically terminate an unexpired lease of real property. It does not matter whether the lease expressly authorizes early termination in the case that the tenant becomes insolvent or bankrupt, because these types of...
Ownership of Fixtures

Ownership of Fixtures

Fixtures are items of personal property that are so attached to the land that they are considered a part of it.  (See Civ. Code § 660; People v. Church (1943) 136 P.2d 139, 144.) Specifically, “whether an article is a fixture is ordinarily a question of fact to...