In the bankruptcy context, an absolute assignment of leases safeguards the lender's rights and remedies to collect and use the rents generated from a mortgaged property both before and after ...
When a landlord defaults on a mortgage of its rental property, the lending institution will typically seek to collect rent from the borrower’s tenants in order to secure repayment of the loan. Due to ...
On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act that expands the definition ...