Texas Motion For Rule 4001 Abandonment is a legal motion filed in a Texas court of law that requests the court to abandon a pending action. It is usually filed by a person or a company who is a party in the pending action and seeks to terminate the pending action due to the lack of sufficient or relevant evidence. The motion must be accompanied by an affidavit that states the facts of the case and the reasons why the action should be abandoned. There are two types of Texas Motion For Rule 4001 Abandonment: voluntary and involuntary. Voluntary abandonment is when all parties in the case agree to end the action. Involuntary abandonment is when one party or the court decides to end the action due to lack of sufficient evidence or other reasons.
Texas Motion For Rule 4001 Abandonment
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Relief from Automatic Stay; Prohibiting or Conditioning the Use, Sale, or Lease of Property; Use of Cash Collateral; Obtaining Credit; Agreements.
This Standard Clause for use in a forbearance or restructuring agreement provides for a defaulting borrower to waive its right to assert the automatic stay against a lender if it later files for bankruptcy. This Standard Clause has integrated notes with important explanations and drafting tips.
The Stay Has Been Lifted ? Now What? Once a creditor gets a court order lifting the automatic stay, they are allowed to move forward with foreclosure or repossession of the property that secures the debt. That said, the creditor still needs to follow state law for their collection or eviction proceedings.
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