Rental Income & Bankruptcy

June 3rd, 2014 by Questions

If after declaring bankruptcy rental income is collected for a couple of months is it considered income or does the trustee take all of it? thanks

Posted from: British Columbia

Questions

One Response to “Rental Income & Bankruptcy”


June 03, 2014 at 6:52 am, Gareth Slocombe, Trustee | C.I.R.P | C.A said:

Assuming the rental income is generated from a real estate property that is going into foreclosure, it would be expected that the Trustee would collect the full amount of the rents. This would continue until such time that the foreclosing creditor obtains a court order to collect the rents and apply them to the mortgage debt.

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