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Flat broke

What happens when your tenant goes bust? Adam Heppinstall reviews the landlord’s options

7 March 2003

In these worrying times of economic instability, landlords may be considering what remedies they have if their tenant suddenly disappears in a puff of insolvency law and is declared bankrupt, is wound up or goes into administration or receivership. The following is a brief overview of the options a landlord has in such situations. This is a very complex area of law and landlords must take legal advice before acting. Preventative measures The first thing to do is ensure you take action before your tenant actually becomes insolvent and is subject to a court order. If a tenant cannot pay the rent, the usual remedies can be used to take possession of the land and obtain judgment for the rent arrears. Possession of the land is usually the most important matter (if the tenant is going into insolvency, a paper judgment for the rent arrears is not likely to be of much immediate value) as once a worthless tenant is ejected a solvent and rent paying tenant can be granted...

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