What Alternatives Are Available to the Bankruptcy Process

question 108

Essay

What alternatives are available to the bankruptcy process?

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Definitions:

Easement

The right to make certain uses of another person’s property or to prevent another person from making certain uses of his own property.

Ownership Transfer

The process by which the legal rights of owning an asset or property are transferred from one person or entity to another.

Restrictive Covenant

A clause in a deed or lease that limits what the owner of the property can do with it.

Valid

Legally binding, enforceable, or well-founded; having legal force.