Chapter 7
Definition of "Chapter 7"
Also called straight bankruptcy. A provision of the 1978 bankruptcy Reform Act providing for a persons property to be divided among creditors to satisfy his/her unpaid debts. Any debtor subject to Chapter 7 is also subject to Chapter 11. See also bankruptcy.
Popular Real Estate Terms
Person who dies leaving a will specifying the distribution of the estate. ...
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic ...
What is a botel?, you ask. You know hotels, right? And the marketing denomination of them to motorists; the "motel”. Well, the best botel definition is “hotel for ...
Upgrading made by a lessee to leased property. Examples are paneling and wallpapering. These improvements revert to the lessor at the expiration of the lease term. As improvement costs are ...
Agreement in which the promises of the parties are revealed in words, either orally or in writing. ...
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Governmental body that reviews property tax assessment procedures. ...
See accommodation endorser, maker, or party. ...
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