IRS liens, Owner declaring bankruptcy, property is declared as an Environmental Hazard, other lines placed by the County.

After bankruptcy.

We have a network of default (foreclosure/bankruptcy) attorneys that represent creditors.

Hey every1! No I'm not bankrupt. I was just curious if you had a LLC that was really leveraged with commercial real estate, and your tenants left, who would be liable for the debt? Would the owner's personal property ...

As you may know, NovaStar was involved with a lot of the subprime loans and was rumored to be on the verge of bankruptcy.

Is there an exception if it is a bankruptcy ?

I'd generally agree.Though, one of my best tenants did have a "minor" (restructuring) bankruptcy in 2008.

@Adrian Schlueter @Joe Gore is right unless there is a bankruptcy or a court order, most states will only let it go 2-5 years.

The key is "they worked it out" - I gave them temporary help but that's it and I did it on properties that I own outright and not with JV partners.It shouldn't take that long....but just hope she hasn't filed for bankruptcy...could take even longer.

When researching it I discovered that it has a foreclosure notice placed on it last June, but the bank has not acted on the notice.I tracked down the owner who had claimed bankruptcy, has no other additional debts, liens against the property, and is moving back to Mexico within 2 months.