Definition of "Chapter 11"

Lela Latimer real estate agent
Lela Latimer, Real Estate Agent ERA Sunrise Realty

Used primarily by real estate corporations as a means of restructuring and reorganizing existing debts. Creditors must vote on a debt-paying plan and a judge must give approval. It provides protection for individual debtors with debts to large for a Chapter 13 filing. See also wage earner plan (chapter 13).

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Real Estate Terms

Popular Real Estate Questions