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Manchester Legal Issues Blog

Judicial vs. Non-judicial commercial foreclosures

When real estate is your business, you have to make decisions that work best for you. Unfortunately, that sometimes includes commercial foreclosures.

In the state of New Hampshire, judicial and non-judicial foreclosures are available. It is important to understand the difference between the two in order to make the best choice for your situation.

Creditor rights in a bankruptcy

When you discover that someone who holds a loan or a line of credit with your company is declaring bankruptcy, your first concern may be what will happen to the debt. In the case of a mortgage, for example, it could be that the borrower intends to reaffirm the mortgage or voluntarily continue to make payments.

On the other hand, he or she could be planning to discharge the debt in the bankruptcy. If you find that you are on the list of creditors who should receive some amount of what is due to you after the liquidation of the debtor's assets, your new concern may be where you are in the order of payment. 

The land entitlement process

When you are searching for commercial properties with plans for development, the land entitlement process is one of the primary steps you must go through. Before you can do anything with a property, you must get approval for your plans through the local municipality, and often the county and state, as well.

Land entitlement determines what you can build, how you can build it, what the uses of the building can be and more.


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