What is relief from automatic stay for cause?

A court may grant relief from an automatic stay "for cause, including the lack of adequate protection of an interest in property."1 That refers to circumstances in which the value of a property or secured collateral may decrease while the bankruptcy case is being resolved.

What is the meaning of automatic stay?

Automatic Stay -- Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against certain creditors who want to start or continue taking action against a debtor or the debtor's property.

US Legal Forms
New Mexico Default Order Granting Relief from Stay (Mobile Home)

New Mexico Default Order Granting Relief from Stay (Mobile Home)

Name: New Mexico Default Order Granting Relief from Stay (Mobile Home)
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.71 (371 reviews)

Category:

New Mexico Bankruptcy - Official - Local District

State:

New Mexico

Control #:

NM-SKU-0049

Format:

Instant download

This website is not affiliated with any governmental entity

Public form

Description

Default Order Granting Relief from Stay (Mobile Home) The New Mexico Default Order Granting Relief from Stay (Mobile Home) is a document issued by the court granting the homeowner permission to move their mobile home from the lot it is currently occupying. This document is typically issued when a homeowner is facing foreclosure or other financial hardship and needs to move the mobile home to secure a better financial situation. There are two types of New Mexico Default Order Granting Relief from Stay (Mobile Home): voluntary and involuntary. Voluntary relief from stay is when the homeowner voluntarily agrees to move the mobile home, while involuntary relief from stay is when the court orders the homeowner to move the mobile home. In either case, the court will issue the New Mexico Default Order Granting Relief from Stay (Mobile Home) to provide the homeowner with the legal authority to move the mobile home.

The New Mexico Default Order Granting Relief from Stay (Mobile Home) is a document issued by the court granting the homeowner permission to move their mobile home from the lot it is currently occupying. This document is typically issued when a homeowner is facing foreclosure or other financial hardship and needs to move the mobile home to secure a better financial situation. There are two types of New Mexico Default Order Granting Relief from Stay (Mobile Home): voluntary and involuntary. Voluntary relief from stay is when the homeowner voluntarily agrees to move the mobile home, while involuntary relief from stay is when the court orders the homeowner to move the mobile home. In either case, the court will issue the New Mexico Default Order Granting Relief from Stay (Mobile Home) to provide the homeowner with the legal authority to move the mobile home.

View Statement of Resignation

View this form

View Application for Settlement & Accounting of Subsequent Administration

View this form

View Statement of Value and Income for Purposes of Bond

How to fill out New Mexico Default Order Granting Relief From Stay (Mobile Home)?

How much time and resources do you typically spend on composing formal documentation? There’s a greater option to get such forms than hiring legal experts or spending hours browsing the web for a suitable template. US Legal Forms is the premier online library that offers professionally drafted and verified state-specific legal documents for any purpose, like the New Mexico Default Order Granting Relief from Stay (Mobile Home).

To get and prepare a suitable New Mexico Default Order Granting Relief from Stay (Mobile Home) template, follow these easy steps:

Look through the form content to ensure it complies with your state requirements. To do so, check the form description or utilize the Preview option.
If your legal template doesn’t satisfy your needs, locate a different one using the search bar at the top of the page.
If you are already registered with our service, log in and download the New Mexico Default Order Granting Relief from Stay (Mobile Home). If not, proceed to the next steps.
Click Buy now once you find the right document. Opt for the subscription plan that suits you best to access our library’s full service.
Sign up for an account and pay for your subscription. You can make a payment with your credit card or via PayPal - our service is absolutely safe for that.
Download your New Mexico Default Order Granting Relief from Stay (Mobile Home) on your device and fill it out on a printed-out hard copy or electronically.

Another advantage of our library is that you can access previously downloaded documents that you securely store in your profile in the My Forms tab. Get them anytime and re-complete your paperwork as often as you need.

Save time and effort completing legal paperwork with US Legal Forms, one of the most reliable web solutions. Join us today!

Form Rating

4.71

Satisfied(371)

Form popularity

FAQ

First, once a person files a bankruptcy petition, the automatic stay immediately stops the bank from foreclosing on, or repossessing, the debtor's real or personal property. Examples include the debtor's home or her car. The automatic stay doesn't allow the debtor to avoid mortgage or car payments.

A court may grant relief from an automatic stay "for cause, including the lack of adequate protection of an interest in property."1 That refers to circumstances in which the value of a property or secured collateral may decrease while the bankruptcy case is being resolved.

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.

When relief from stay is granted, it does not remove the property from the bankruptcy estate or grant the creditor ownership of the property. It simply removes the stay and restores the parties to their state law rights. Creditors can then enforce those rights to the extent that the relief from stay order permits.

Automatic Stay -- Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against certain creditors who want to start or continue taking action against a debtor or the debtor's property.

Motion for Relief from the Automatic Stay is a request by a creditor to allow the creditor to take action against the debtor or the debtor's property that would otherwise be prohibited by the automatic stay.

More info

Default Order Granting Relief from Stay (Mobile Home) ; NM LF 362-2 ; Category: Recommended Forms ; PDF Form: PDF icon nmlf362-2. Download Default Order Granting Relief from Stay (Mobile Home) – New Mexico District Bankruptcy Court (New Mexico) form.A motion for relief from the automatic stay is a creditor's way of asking the court for permission to eg. Foreclose on a house or repossess a car. The lender files a lawsuit in court and asks the court to grant an order for repossession. If you default on your manufactured home loan, the lender might be able to take possession of it through repossession or foreclosure. Are Provider Relief funds accessible in whole or in part to bankruptcy creditors and other creditors in active litigation? 160, Landlord's remedies if tenant fails to remedy defective condition. Additionally, the opportunity to apply Provider Relief Fund payments (excluding the Nursing Home Infection. It forbids creditors from pursuing both formal and informal actions and remedies against the debtor and its property.

New Mexico Default Order Granting Relief from Stay (Mobile Home)

Description

Related forms

How to fill out New Mexico Default Order Granting Relief From Stay (Mobile Home)?

Show more info

Form Rating

Form popularity

FAQ

What is an example of an automatic stay?

What is relief from automatic stay for cause?

What happens after automatic stay is lifted?

What is the effect of relief from stay?

What is the meaning of automatic stay?

What does relief from automatic stay mean?

More info

Trusted and secure by over 3 million people of the world’s leading companies