Real Estate Glossary

Bankruptcy

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Glossaries

Term Main definition
Bankruptcy

Proceedings under federal statutes to relieve a debtor who has been declared bankrupt from insurmountable debt. After addressing certain priorities and exemptions, the bankrupt's property and other assets are distributed by the court to creditors as full satisfaction for the debt. See Also: Chapter 11

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San Francisco Property Management

47 Kearny Street
San Francisco, CA 94108
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California DRE #01183885